Shares of Coinbase Global Inc. (COIN) surged after JPMorgan Chase upgraded the cryptocurrency exchange, predicting a $12 billion to $34 billion market opportunity with the launch of a Base token. The upgrade lifted COIN shares by over 9% to $353, up 42% year-to-date, with a market cap of $90.6 billion.

Coinbase is set to report third-quarter earnings on Oct. 30, with analysts expecting earnings of $1.06 per share and revenue of $1.74 billion. The company has been focusing on its subscription and services segment, projected to contribute $665 million to $745 million in the quarter, following several operational milestones in Q2.

Read more at Cointelegraph: JPMorgan Upgrades Coinbase on Base, USDC Potential