Cantor Bullish on Coinbase, Citing Its Role as a Backbone of the Crypto Economy
Coinbase (COIN) is increasingly becoming a key pillar of the digital asset landscape—not just a trading venue, but a critical layer of crypto infrastructure, according to a new report from Cantor Fitzgerald. The firm initiated coverage on the stock with an overweight rating and a $245 price target, sending shares up more than 5% in early trading.
The report highlights two major components of Coinbase’s strategy that the market has yet to fully price in: its Layer 2 chain, Base, and its deepening involvement in the stablecoin space through its partnership with Circle.
“Coinbase is quietly building the rails for tomorrow’s financial system,” wrote analysts Brett Knoblauch and Thomas Shinske. “Base is rapidly scaling, creating organic growth in transaction fees, while the stablecoin ecosystem could revolutionize international payments—with Coinbase at the center.”
Base has shown robust early traction, and Cantor believes its growth flywheel is just beginning. At the same time, stablecoin infrastructure is poised to eat into traditional finance, offering a leaner, blockchain-native solution to global transfers.
Cantor also flagged the valuation gap: Coinbase is trading at a 32% discount to historical norms, despite strengthening fundamentals.
As Coinbase evolves beyond trading to become a multi-layered platform powering the next generation of blockchain applications, the report suggests its revaluation is only a matter of time.
