Coinbase (COIN), the U.S.-based cryptocurrency exchange, rose to prominence as digital assets went mainstream, becoming the gateway for millions diving into Bitcoin (BTCUSD), Ethereum (ETHUSD), and the broader crypto universe. However, on May 8, the company unveiled a mixed Q1 earnings report, with both revenue and profit dipping as crypto trading cooled in early 2025. The slowdown was partly fueled by tariff concerns, and Coinbase has been ceding ground in market dominance.
Still, not everyone’s bearish. Optimism lingers, especially after its recent Deribit acquisition, which could strengthen its position in the crypto derivatives space. Amid the mixed signals, one forecast stands out - a bold $400 Street-high price target, given by Canaccord Genuity’s Joseph Vafi.
