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crypto.news 2024-12-11 08:00:00

Coinbase projected will flip Schwab as most valuable brokerage

Coinbase is projected to be the world’s most valuable brokerage, surpassing $7 trillion asset manager Charles Schwab, which is supported by several key factors. Bitcoin spot exchange-traded fund (ETF) issuer Bitwise is projecting that Coinbase shares (COIN) in the U.S. stock market will double to $700 next year, which now only traded about $302. These bullish projections also came with a vision that this exchange will rise as the world’s most valuable brokerage, exceeding Charles Schwab by next year. “Our prediction: Coinbase stock will trade above $700 per share in 2025 (more than doubling today’s price). That would make them as the most valuable brokerage in the world, surpassing Charles Schwab. The reason? It is more than just a brokerage,” Bitwise stated on the released report The collaboration between Coinbase and USDC has had a positive impact on the company, accounting for $162 million in revenue or an increase of 31%. This projection will continue to rise. A new Layer 2 ( L2 ) network named Base, which builds on the Ethereum blockchain, is now a leader in both transaction and total value lock, with 131 transactions per second (TPS) and $12.9 billion, respectively. Through this L2 project, Base generates revenue of more than tens of millions of dollars every quarter as the capital and ecosystem are expected to grow. Bitwise also noted that staking and custody services are also promising for the company’s future, with $589 million generated revenue. It is expected that both business revenues will rise up to $1 billion. However, Charles Schwab has also raise d their concern about emerging digital assets, which has now led the company to enter the crypto spot market. You might also like: Coinbase’s Project Diamond integrates Chainlink Coinbase upcoming move Before this projection, Coinbase has made a clear pathway to collaborate with several companies to integrate their services into another market, even before entering the new year. Apple Pay has agreed to integrate its on-ramp platform, aiming to simplify and speed up the transactions between fiat and crypto. It allows 60 million users of Apple Pay in the U.S. to convert the currency easily. The company’s executives also believe that stablecoin will have better regulations next year. If this happens, USDC will grow multiple times in the future. You might also like: Coinbase expands Dogwifhat trading to New York

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