CoinWorld news, on July 15, according to Zhito Finance, Argus recently gave Coinbase Global a 'Buy' rating, believing that this cryptocurrency trading platform continues to maintain strong growth momentum, and the recently passed 'Cryptocurrency Innovation and Regulation Bill' is expected to become a new engine for its business expansion. Argus analysts Kevin Heal and Masako Inagaki pointed out in their research report that Coinbase's ongoing investments in R&D and strategic acquisitions are likely to effectively increase the number of daily active users on the platform. However, they also warned that the current stock price valuation has exceeded the fundamentals. Specifically, Coinbase's price-to-earnings ratio is higher than that of traditional exchange peers such as Intercontinental Exchange (ICE.US), Nasdaq (NDAQ.US), Chicago Mercantile Exchange (CME.US), and Chicago Board Options Exchange (CBOE.US), but analysts believe that its leading profitability performance and growth potential in a bull market cycle are sufficient to support the reasonableness of the short-term premium. With the U.S. 'Crypto Week' pushing three key pieces of legislation, traditional financial institutions are accelerating their layout in the crypto field. As a compliance leader, Coinbase is expected to continue benefiting from market expansion. Analysts believe that under a clear regulatory framework, the phenomenon of 'bad money driving out good' in the cryptocurrency industry will be curbed, and platforms with technological advantages and compliance qualifications will dominate the competition in the next phase. [CoinWorld]
