Coinbase Global (COIN) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The cryptocurrency does not have major supply-side overhangs such as token unlocks or miner sell pressure, the report said.
Coinbase Global stock fell on Thursday in the face of recent gains in prices, which tend to lead shares of the cryptocurrency broker higher. CME Group the Chicago-based trading firm, plans to launch spot Bitcoin trading amid interest from Wall Street money managers, the Financial Times reported on Thursday, citing anonymous sources. Coinbase stock fell 9.4% on Thursday.