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According to experts at investment bank Piper Sandler, the upcoming SEC lawsuit hearing against Coinbase and the lack of clarity on the future of crypto-asset regulation in the United States “have created too much uncertainty for investors to reasonably forecast cryptocurrency exchange earnings in the coming years.”<br
As of the start of the second half of the year, Coinbase Global’s stock price had fallen 69% since its initial launch. At the same time, Piper Sandler predicts that in 2023 the volume of exchange trading, as well as the monthly number of users of the exchange, may be the lowest on record over the past two years.
Nevertheless, the experts of Piper Sandler are confident that if there is clarity in the regulation of the crypto-assets market, Coinbase will be able to regain its previously won position in the crypto-space without much difficulty.
Among the crypto market analysts tracked by Bloomberg news portal, 11 recommend investors to buy Coinbase shares, 13 to hold and eight to sell.
Earlier, CryptoLaw founder John Deaton said that more than 2,000 traders have expressed their willingness to support the Coinbase exchange in the proceedings with the U.S. Securities and Exchange Commission.<br