This Crypto Stock Is Taking Advantage of a $10 Trillion Opportunity. Is It a Buy Now?
Buoyed by the continuing uptrend in the crypto market, the stock of cryptocurrency exchange Coinbase Global (NASDAQ: COIN) is up a head-spinning 375% this year. Largely, this has been due to improving sentiment about crypto in general, and what that means for trading volume on the Coinbase trading platform. It's not rocket science: The more that people trade crypto, the more money Coinbase makes.
But many investors may not realize just how much Coinbase has been diversifying its core business, so as to become less dependent on the ebbs and flows of cryptos such as Bitcoin (CRYPTO: BTC). In fact, there's a new $10 trillion opportunity that Coinbase appears to be seizing on quite aggressively. If it works out as planned, it could make Coinbase stock an even better buy than it already is. Let's take a closer look.
The new opportunity for Coinbase is known as real-world asset tokenization, sometimes abbreviated as simply RWA tokenization. This just means converting real-world assets (such as stocks or bonds) into digital assets that can be traded on a blockchain. Once these "tokens" are on the blockchain, it's easier for Wall Street to trade them.
Source Fool.com
Coinbase Global Inc. Stock
Our community is currently high on Coinbase Global Inc. with 27 Buy predictions and 15 Sell predictions.
However, we have a potential of -0.67% for Coinbase Global Inc. as the target price of 185 € is below the current price of 186.24 €.
