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Investment Research Firm Says Coinbase Stock Could Fall to $100
Coinbase's earnings report on Thursday will do little to shift sentiment that the exchange's shares are overvalued, according to New Constructs.
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Coinbase (NASDAQ: COIN) shares could fall to $100 or less as the company is unlikely to meet future profit expectations, according to a U.S. investment research firm.
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Nashville-based firm New Constructs' CEO David Trainer thinks investors should expect Coinbase's stock to continue to underperform, despite favorable yearly earnings.
"At [Coinbase's] current price ... the stock’s valuation implies the company will exceed the combined revenue of Intercontinental Exchange and Nasdaq," Trainer said in a research note emailed to CoinDesk on Tuesday. "We do not expect [Coinbase] to report any news from [the first quarter of this year] that could justify owning shares at current levels."
Coinbase is expected to report its first earnings on Thursday. Yet, even though the exchange has posted impressive year-over-year revenue of around $500 million and an increase in users, the research firm still believes the stock will continue to slump over the long term.
See also: Coinbase Debuts ‘Buy With PayPal’ Feature (but Read the Fine Print)
"No earnings report, in our opinion, will be strong enough to convince investors the company will exceed the extraordinary expectations for profits already baked into the current price," wrote Trainer.
The CEO also pointed to rising competition in the crypto trading space and tapering of profits for Coinbase that could lead to an unsustainable valuation.
New York Investment firm Oppenheimer analyst Owen Lau disagrees, rating the stock as "outperform" in a note on Monday. Oppenheimer said Coinbase removes "pain points" in finance and set a price target of $434 per share over 12–18 month period.
See also: NYSE-Owner ICE Sold Coinbase Stake for $1.2B
But the recent performance gains have done little to convince Trainer, who wrote Coinbase had "more downside risk ahead."
Coinbase stock has fallen 12% since debuting on the Nasdaq in mid-April with an opening price of around $381. Up 20% from May 6 lows of around $250, Coinbase shares recently traded at $303, with buyers showing some signs of life.
Higit pang Para sa Iyo
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin’s weakness versus gold and equities puts quantum computing fears back in focus
Some investors have revived concerns that quantum computing could threaten bitcoin, but analysts and developers say recent price weakness reflects market structure.
What to know:
- Bitcoin’s recent price stagnation has sparked a renewed debate over quantum-computing risks, with investor Nic Carter arguing that quantum fears are already shaping market behavior.
- On-chain analysts and prominent investors counter that the slowdown is better explained by large holders taking profits and increased supply hitting the market around the $100,000 level.
- Most bitcoin developers still view quantum attacks as a distant, manageable threat, noting that proposed upgrades like BIP-360 provide a path to quantum-resistant security and are unlikely to explain short-term price moves.
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