TLDR
Bank of America upgraded Coinbase stock to buy with $340 price target, the second major upgrade this week.
BofA analyst sees 38% upside as COIN stock trades at $245.60 after falling 40% from July highs.
Coinbase expanding into 24/5 stock trading, prediction markets, and real-world asset tokenization.
Potential Base network token could raise billions and boost decentralized finance development.
Short interest reversing and tax-loss selling pressure easing create favorable technical setup.
Bank of America upgraded Coinbase stock to buy on Thursday with a $340 price target. The target implies 38% upside from the current price of $245.60.
Coinbase Global, Inc., COIN
This marks the second major buy rating for COIN stock this week. Goldman Sachs upgraded Coinbase on Monday.
BofA analyst Craig Siegenthaler cited the company’s expansion beyond crypto trading. Coinbase is building what the bank calls an “everything exchange.”
The platform announced 24/5 stock and ETF trading for S&P 500 companies in December. Coinbase also partnered with Kalshi to add prediction markets.
On Thursday, the exchange said copper and platinum futures launch January 26. These moves diversify revenue away from crypto trading fees.
COIN stock has been volatile throughout 2025. Shares traded between $151.80 and $419.80 during the year. That’s a 176.6% range between highs and lows.
The stock is down 5.6% over the past 12 months. Shares have fallen 40% from July peaks.
Base Token Potential
Bank of America highlighted a potential token for the Base network. Base is Coinbase’s Ethereum layer-2 blockchain.
The network currently operates without its own token. BofA estimates a Base token could raise billions in capital.
A native token would help decentralize the platform. It would also incentivize developers to build more applications on Base.
Coinbase has not announced official plans for a Base token. But management is weighing the option as part of long-term strategy.
Stock Trading and Asset Tokenization
Coinbase is launching equity perpetuals internationally in 2026. The platform is also building Coinbase Tokenize for real-world assets.
Tokenize brings assets like private equity and real estate onto blockchain. The service targets asset managers seeking crypto-native investors.
BofA said these expansions increase Coinbase’s addressable market. The products position the company to cross-sell services to users.
Short interest in COIN stock is starting to reverse. Tax-loss harvesting pressure from late 2024 is also easing.
The bank said Coinbase remains the most regulated crypto company in the United States. Near-term results still depend on crypto price volatility.
But the company’s product development has accelerated despite the stock decline. Coinbase detailed its roadmap at a December product showcase.
