Bernstein raised its price target on Coinbase (COIN) to $510 from $310, citing it as the “most misunderstood company” in the firm’s crypto coverage. The stock has soared to the upside, alongside Circle (CRCL) after its IPO earlier this month. Many investors may be asking why, and how long these rallies can continue. George Tsilis goes in-depth on the state of stablecoins to explain the volatile moves. His concern for a continuing rally revolves around whether investors have “overhyped” crypto’s adoption status.
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