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• Coinbase Global (NasdaqGS:COIN) has completed its acquisition of crypto derivatives exchange Deribit, expanding its institutional offering.
• The company has launched Base, an Ethereum Layer 2 network, as a new potential revenue source linked to on chain activity.
• Coinbase has formed an advisory board focused on quantum computing risks to Bitcoin cryptography and broader cybersecurity threats.
Coinbase Global, trading at around $210.83, has seen mixed share performance, with a 25.2% decline over the past year but a very large gain over the past 3 years. The recent launch of Base, combined with the Deribit integration, suggests Coinbase is leaning further into infrastructure, trading and services alongside its existing retail franchise.
For you as an investor, these updates raise fresh questions about how much of Coinbase's future mix could come from derivatives, on chain fees and security services. The quantum risk advisory board also shows Coinbase engaging with longer term technical threats that could matter for crypto adoption and, by extension, for companies tied to digital asset infrastructure.
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Why Coinbase Global could be great value
• ? Price vs Analyst Target: At US$210.83, the price is roughly 39% below the US$343.38 analyst target.
• ? Simply Wall St Valuation: Shares are trading about 93.1% above the Simply Wall St fair value estimate.
• ? Recent Momentum: The 30 day return of about an 11% decline shows weak short term momentum.
Check out Simply Wall St's in depth valuation analysis for Coinbase Global.
• ? Deribit, Base and the quantum advisory board all point to Coinbase leaning further into infrastructure, derivatives and security services tied to crypto activity.
• ? Watch how derivatives volumes, Base related on chain revenue and institutional client adoption trend in relation to the current P/E of 17.7x and analyst target range of US$188 to US$505.
• ?? Earnings quality and forecast earnings pressure are flagged as major risks, which matters as Coinbase adds more complex products such as derivatives.
For the full picture including more risks and rewards, check out the complete Coinbase Global analysis.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.