{"id":16165,"date":"2023-01-06T09:02:20","date_gmt":"2023-01-06T09:02:20","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cowen-downgrades-coinbase-to-market-perform\/"},"modified":"2023-01-06T09:02:20","modified_gmt":"2023-01-06T09:02:20","slug":"cowen-downgrades-coinbase-to-market-perform","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cowen-downgrades-coinbase-to-market-perform\/","title":{"rendered":"Cowen downgrades Coinbase to market perform"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1667495795128-642a95c3-a343-4303-9274-3931313b47d1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1667495795128-642a95c3-a343-4303-9274-3931313b47d1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1667495795128-642a95c3-a343-4303-9274-3931313b47d1-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1667495795128-642a95c3-a343-4303-9274-3931313b47d1-smartcrop-363x181.png\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li>Cowen cited the absence of clarity on a possible trading volume recovery after FTX collapsed\u00a0<\/li>\n<li>Cowen also reduced its price target on the shares<\/li>\n<li>Coinbase has features that make it one of the safest platforms to trade <\/li>\n<\/ul>\n<p>Financial services and investment firm Cowen, which has locations throughout the US, Europe, and several in Asia, downgraded cryptocurrency exchange Coinbase shares from outperform to market perform.\u00a0<\/p>\n<p>They cited the absence of clarity on a possible trading volume recovery after competing crypto exchange FTX collapsed, <a href=\"https:\/\/www.cnbc.com\/2023\/01\/05\/cowen-downgrades-coinbase-as-crypto-companies-face-elevated-scrutiny-after-ftx-implosion-.html\">CNBC<\/a> reported.\u00a0<\/p>\n<h2>Shares dropped to $37 in premarket session<\/h2>\n<p>Cowen also reduced its price target on the shares from $75 to $36, almost 50%. In the premarket session, the stock lost 1.5%, falling to $37.14. Coinbase shares lost 84% last year.\u00a0<\/p>\n<h2>Positive predictions despite current developments\u00a0<\/h2>\n<p>How Coinbase will perform in 2023 remains to be seen. According to experts, however, the regulated company has <a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">an excellent security record<\/a> and disposes of a number of features that make it one of the safest platforms to trade, buy, and sell crypto.\u00a0<\/p>\n<h2>Sterner scrutiny from regulators\u00a0<\/h2>\n<p>The collapse of Sam Bankman-Fried\u2019s exchange sent shock waves throughout the industry. One effect is likely to involve sterner scrutiny from watchdogs like the US Securities and Exchange Commission according to insiders.\u00a0<\/p>\n<h2>Reduced crypto valuations will lead to lower retail trade volumes\u00a0<\/h2>\n<p>Lowered crypto valuations will result in depressed retail trading activity. There is still some interest from institutional investors, but they are becoming far more cautious, conducting careful due diligence in each sector. Analysts George Kuhle and Stephen Glagola wrote in a note:\u00a0<\/p>\n<p><em>COIN\u2019s business is significantly correlated to crypto asset prices, trading volumes and volatility.<\/em><\/p>\n<h2>Visibility remains low\u00a0<\/h2>\n<p>The leading US exchange\u2019s monthly <a href=\"https:\/\/coinjournal.net\/news\/70-of-unregulated-exchanges-volume-is-wash-trading-study\/\">trading volumes<\/a> have been declining fairly consistently each month since the universal all-time high in November 2021.\u00a0<\/p>\n<p>Visibility remains low into a rebound and a stabilization in retail trading volumes in the current year considering the FTX contagion risks, the macroeconomic backdrop, and their compounded effects on crypto prices. \u00a0<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/cowen-downgrades-coinbase-to-market-perform\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Cowen cited the absence of clarity on a possible trading volume recovery after FTX collapsed\u00a0 Cowen also reduced its price target on the shares Coinbase has features that make it one of the safest platforms to trade Financial services and investment firm Cowen, [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":16166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16165"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=16165"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16165\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/16166"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=16165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=16165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=16165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}