10x Research: Despite Strong Uptrend in Coinbase Stock Price, Its Valuation Is Too High

PANews reported on June 29 that 10x Research released a report stating that its regression model indicates that despite Coinbase's strong stock price upward trend, its valuation is overvalued. Recently, Coinbase's stock price has continued to rise under multiple positive factors. Coinbase (stock price above 7-day moving average -> bullish, also above 30-day moving average -> bullish, 1-week change +47.8%) was driven by Bernstein's target price raised to $510, citing its stablecoin business and institutional services; the Senate passed the GENIUS Act, which enhanced stablecoin regulatory transparency and pushed its stock price up 5.5% to $374.97; the upcoming launch of US-regulated Bitcoin and Ethereum perpetual futures on July 21 further stimulated investor enthusiasm; Circle's successful IPO and Coinbase's revenue sharing with USDC consolidated its market position and supported price increases.