From Nasdaq:

Cryptocurrencies have surged in 2024, collectively valued at over $2.45 trillion, up nearly 50%. Despite this, indicators show crypto has not peaked yet, offering investment opportunities. Coinbase Global (NASDAQ: COIN) is a simpler way for investors to ride the crypto wave.

Coinbase’s stock market debut marked a milestone for legitimizing digital assets. The company struggled amid a crypto winter, posting a $2.6 billion loss in 2022. However, a revamped business model, international expansion, and innovation have positioned Coinbase for growth as the crypto market re-enters a bull phase.

The new Coinbase boasts a diversified revenue model, with transaction fees now accounting for less than half of total revenue. Subscription and Services dominate revenue, with international expansion and innovation, like its proprietary blockchain Base, driving growth. Base has already attracted 3 million users and generated over $6 million in profits.

Fourth-quarter profits in 2023 marked a turnaround for Coinbase, signaling potential for further growth with a diversified business model. Trading below its all-time high and with the upcoming crypto bull market, Coinbase’s upside is promising. Investors may find owning Coinbase as a proxy to the crypto asset class beneficial in the months ahead.



Read more at Nasdaq: Cryptocurrencies Are Soaring, But I Think This Is the Best Buy Right Now