Sam Boughedda

Investing.com — Coinbase Global Inc (NASDAQ) stock dropped 3% on Friday despite Daiwa analyst Carlton Lai launching coverage with a buy rating, $230 price target and coverage.

The Fly website quoted The Fly’s analyst note to investors. According to The Fly, the platform managed $278 Billion in assets.

Lai said that Coinbase could be among the three most popular exchanges worldwide if it were crypto-only.

According to Lai Coinbase holds 11.5% of crypto world and is “biggest beneficiary” of boom in crypto industry.

Coinbase is expected to transition from being a cryptocurrency trading broker to becoming a technology enabler in the long-term, as it has competitive edge and institutional-grade security compliance.