Wall Street small and mid-sized investment bank and research firm Benchmark reaffirmed its 'Buy' rating for Coinbase (COIN) and raised its price target from the previous $260 to $270. Benchmark stated, "Coinbase is evolving beyond a simple cryptocurrency exchange into a core infrastructure platform for the on-chain economy, encompassing stablecoins, derivatives, tokenization, DeFi, prediction markets, and AI commerce." Previously, Coinbase recorded a net loss of $394 million and revenue of $756 million in Q1 this year, falling short of market expectations. However, Benchmark explained that Coinbase's global cryptocurrency trading market share rose to a record high of 8.6%, and platform assets under custody also increased to approximately $294 billion.
