Coinbase is already one of the main participants for the Ethereum ecosystem: Berstein

Coinbase It is consolidated as a key actor in the growth of Ethereum, Thanks to your network Base and significant holdings in Eth, with projected income above USD $ 75 million annually.

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• Base processes more than 9 million daily transactions in Ethereum.
• Coinbase It has Eth for a value of USD $ 590 million.
• Annual rates income in Eth estimated at USD $ 75 million.

Coinbase, One of the main exchanges of cryptocurren Ethereum in its expansion, according to a report by the investigation firm Bernstein Posted on Monday. The analysis highlights how the company has strengthened its presence on the network thanks to its layer 2 chain, Base, and his important treasury in Eth.

The report, reviewed by COINDESK, points out that since June 5 the price of Eth has increased by 80%, driven by the list of Circle (CRCL) In the American stock market, and the growing market aware Ethereum. This rebound has directly benefited Coinbase, that has intensified its operations in the ecosystem.

Base, That does not have a native token, processes more than 9 million daily transactions related to stablecoins, financial applications and consumer services. Gas rates are paid in Eth, which allows Coinbase Generate income as a transaction sequencer. Bernstein He estimates that this activity provides an annualized revenue rhythm of USD $ 75 million.

Base as leader in tokens deployment

According to the report, Base It has become the dominant network for the deployment of new tokens. The direct integration of all assets of said network into the main platform of Coinbase has significantly promoted trading activity, which in turn has increased the brokerage commissions called in Eth.

In addition, the launch of the application APP base —A wallet of consumption to buy, sell, maintain and transfer cryptocurrencies, including payments with stablecoins – has expanded the exhibition of Coinbase to Ethereum and its increasing network of applications.

Treasury Impact Eth and the increase in trading

Coinbase also maintains an important treasury Ethereum valued at USD $ 590 million, equivalent to 136,782 Eth, which positions it as a direct beneficiary of the appreciation of the Token. In its second quarter results report, the company stressed that July trading commissions increased 40% compared to the average quarter, mainly thanks to the increase in trade in trade Eth.

This growth reflects the general enthusiasm of the market towards Ethereum, backed by an offer of more than 250 tokens listed in Coinbase. According to Bernstein, This diversification of assets and services keeps the company in a privileged position to capitalize on the continuous development of the ecosystem.

Market prospects

Bernstein maintains a qualification of “Superior Performance” for the actions of Coinbase, with an objective price of USD $ 510. At the time of the publication of the report, the titles rose 4% and quoted around USD $ 323, reflecting the confidence of investors in the company’s strategy and their link with Ethereum.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image, created with artificial intelligence, for free use, licensed under public domain

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