一位分析師表示,Coinbase 今年下架部分穩定幣的舉措可能有助於該公司的獲利。
Coinbase’s move to delist some stablecoins this year could help the company’s bottom line, according to one analyst.The crypto exchange operator said Friday it will delist stablecoins in Europe that are not compliant with requirements of the Markets in Crypto-Assets regulation, the celebrated European Union crypto law that will fully take effect Dec. 30. “As the industry leader in trusted, compliant crypto products and services, we always aim to achieve regulatory compliance and will continue the same with respect to MiCA,” a Coinbase spokesperson said in a statement shared with CNBC. “We will share further details of our plan in November, and will provide options for affected [European Economic Area] customers to switch to stablecoins issued by appropriately authorised issuers, such as [USD Coin] and [EUR Coin].” That will no doubt pose challenges to Tether (USDT) . The stablecoin leader has been heavily scrutinized over the years for its lack of transparency and alleged use by criminals. Nevertheless, it remains the most popular and most easily accessible stablecoin due to its ubiquity across global exchanges for the past decade. Circle-issued USD Coin (USDC) did not hit the market until 2018. With this delisting, it is likely market makers and traders will swap their Tether for USD Coin, according to Owen Lau, an analyst at Oppenheimer. That could be a boon to Coinbase. “Coinbase and Circle have a revenue sharing agreement — they share 50% of USDC revenue,” he said. “If the market cap for USDC goes up revenue for Coinbase will increase as well.” Oppenheimer has a buy rating on Coinbase and a price target of $282, which is 65% above Friday's close. Although the stock is up 118% in the past year, it is down 1% in 2024 and may have more of a downtrend ahead of it with the crypto market struggling for momentum and a stagnant bitcoin price. “The MiCA implementation is a positive for Coinbase — no doubt about that,” Lau added. “The near-term challenges are still the uncertainty with the election and geopolitical tension so expect near-term vulnerability. But after January 1, 2025, [MiCA will be a good key catalyst for Coinbase — it should help the market cap of USDC, hence, the revenue of Coinbase.”
一位分析師表示,Coinbase 今年下架一些穩定幣的舉措可能有助於該公司的盈利。穩定幣。 ,並將在MiCA 方面繼續這樣做。 「我們將在11 月分享我們計劃的更多細節,並將為受影響的[歐洲經濟區] 客戶提供切換到由適當授權發行人發行的穩定幣的選擇,例如[美元硬幣] 和[歐元硬幣]。這無疑會為Tether(USDT)帶來挑戰。多年來,這家穩定幣領導者因其缺乏透明度和涉嫌被犯罪分子利用而受到嚴格審查。儘管如此,由於過去十年來它在全球交易所中無處不在,它仍然是最受歡迎和最容易獲得的穩定幣。 Circle 發行的美元硬幣 (USDC) 直到 2018 年才上市。這對 Coinbase 來說可能是一個福音。 「Coinbase 和 Circle 簽訂了收入共享協議——他們分享 USDC 收入的 50%,」他說。 “如果 USDC 的市值上升,Coinbase 的收入也會增加。”奧本海默對 Coinbase 給予買入評級,目標價為 282 美元,較週五收盤價高出 65%。儘管該股在過去一年上漲了 118%,但到 2024 年將下跌 1%,並且由於加密貨幣市場缺乏動力和比特幣價格停滯,未來可能會出現更多的下跌趨勢。 「毫無疑問,MiCA 的實施對 Coinbase 來說是積極的,」Lau 補充道。 「近期的挑戰仍然是選舉的不確定性和地緣政治緊張局勢,因此預計近期會出現脆弱性。但在 2025 年 1 月 1 日之後,[MiCA 將成為 Coinbase 的一個很好的關鍵催化劑——它應該有助於提高 USDC 的市值,從而提高 Coinbase 的收入。
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