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Bernstein: Coinbase Holds Over 136,000 ETH, Will Benefit from ETH Price Surge
Summary: According to reports, analysts at Bernstein, led by Gautam Chhugani, stated that as ETH reaches its highest point in years and altcoins begin to rebound, Coinbase will benefit the most. They believe that the long-tail effect of tokens supported by Coinbase, a large amount of staked assets, and revenue from Base chain can drive trading ...
According to reports, analysts at Bernstein, led by Gautam Chhugani, stated that as ETH reaches its highest point in years and altcoins begin to rebound, Coinbase will benefit the most. They believe that the long-tail effect of tokens supported by Coinbase, a large amount of staked assets, and revenue from Base chain can drive trading volume significantly. Additionally, Coinbase holds a reserve of 136,782 ETH, valued at $570 million. Analysts noted in a memo to clients on Monday that since stablecoin issuer Circle's sensational IPO on June 5, ETH has surged 80%. With investors increasingly interested in the Ethereum ecosystem after realizing that most stablecoins are issued on the Ethereum network, Coinbase is poised to be the biggest beneficiary as it has listed over 250 tokens and integrated Base chain long-tail tokens into the Coinbase App.
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Link: Bernstein: Coinbase Holds Over 136,000 ETH, Will Benefit from ETH Price Surge [Copy]
