Broker sets $510 price target as ETH rally boosts revenue from staking and Layer 2
Wall Street broker Bernstein has identified Coinbase as one of the most strategically positioned companies to benefit from Ethereum’s accelerating growth, assigning the crypto exchange an “outperform” rating with a $510 price target.
According to the report, ether (ETH) has surged 80% since June 5, driven by Circle’s listing and increased awareness that the majority of stablecoins are minted on the Ethereum network. This rally, Bernstein says, signals the potential start of an altcoin-led market cycle — with Coinbase poised to capture significant upside.
Coinbase generates Ethereum-linked revenue through its Layer 2 blockchain, Base, as well as staking services for ETH holders. Both avenues have grown in tandem with Ethereum’s expanding role in the global decentralized finance ecosystem.
The report highlights Coinbase’s diverse ETH-related revenue streams, including transaction fees, staking rewards, and growth from Base, which has been gaining traction among developers and DeFi protocols seeking lower transaction costs compared to Ethereum’s mainnet.
Bernstein’s analysis suggests that the combination of ETH price momentum, increasing stablecoin circulation, and Layer 2 adoption could position Coinbase as a core equity play for investors seeking exposure to Ethereum’s success.
“With Ethereum serving as the backbone for much of the crypto economy, companies that enable access, liquidity, and scalability will remain critical — and Coinbase is front and center in that value chain,” digital asset strategists noted.
As Ethereum continues to anchor innovation in DeFi, NFTs, and tokenized assets, Coinbase’s deep integration with the blockchain could solidify its role as a market leader, offering a unique bridge for both retail and institutional participants in the rapidly evolving digital asset landscape.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.