Coinbase(NASDAQ: COIN) Has Won Against the Securities and Exchange Commission (SEC) and Is Now Freer to Build on the Blockchain in the U.S.

What should investors look for to see whether Coinbase's momentum continues? The answer lies beyond crypto prices and with the non-trading business

Coinbase(NASDAQ: COIN) has won against the Securities and Exchange Commission (SEC) and is now freer to build on the blockchain in the U.S. But can the company continue to move forward with the momentum it has shown over the past year?

To answer that question, investors need to look beyond the crypto prices and at the non-trading business, which is showing promise and could help Coinbase sustain its performance in 2024.

In a recent interview with TipRanks, Webull analyst Donna Hung discussed the opportunities and challenges facing Coinbase in the coming year.

Coinbase's performance has been closely tied to the cryptocurrency market, with higher volumes and prices leading to increased revenue for the exchange. However, Coinbase is expanding beyond trading to offer more services and products, such as blockchain technology solutions and institutional products.

This diversification is crucial for Coinbase to sustain its performance in the long term, especially as the crypto market faces regulatory uncertainties and potential volatility.

To continue its momentum, Coinbase will need to navigate the evolving regulatory landscape and expand its offerings to maintain its competitive edge in the evolving digital asset ecosystem.

Investors will be watching closely to see how Coinbase performs in the second half of 2024 as it expands its product suite and seeks to capitalize on the growing institutional interest in crypto.

As Coinbase continues to build out its non-trading business and seeks to sustain the performance it achieved in 2023, investors will be focused on the company's ability to diversify its revenue streams and capitalize on emerging opportunities in the blockchain and digital asset space.