Bernstein analysts think that Coinbase stock could surmount 69% and hit a minimum of $310, reported TheBlock.

Analysts also think that the crypto market is still nascent and that the U.S. has a growing role in digital assets that can benefit Coinbase in the long run.

The team, led by analyst Gautam Chhugani , said in a note on Tuesday that while competition and declining fees were "overhyped," Coinbase could keep growing.

Analysts believe this is because more people in the U.S. will adopt cryptocurrencies, calling it the "great American homecoming," inspired by efforts from the Trump administration to make the U.S. dominant in the crypto industry.

The analyst also pointed to Coinbase's broader range of offerings, such as crypto staking yields, custody services, and the Ethereum Layer 2 network Base, predicting a 31% compound annual growth rate for its non-trading revenues during that time frame and 33% for its overall.

Chhugani believes the Bitcoin Strategic Reserve and an increase in banks adopting digital assets could boost growth.

Coinbase is the largest crypto exchange in the U.S., holding roughly 66% of the market, over $400 billion worth of assets, and some 10 million active users.

Although Bernstein projects its market share will decline slightly to 60% by 2026, it expects a 34% annual growth rate for its trading revenue and a 31% growth rate for non-trading revenue from services such as staking and an Ethereum Layer 2 network called Base.

Bitcoin may be 30% off its all-time high, but Bernstein's Chhugani says the market has room to go up.

Analysts predicted that by late 2025 or early 2026, Bitcoin may rise to $200,000, driven by institutional and government adoption. Moreover, when regulations get friendlier, real-world asset tokenization and stablecoins have the potential to create significant new revenue streams for Coinbase, believes Chhugani.

At press time, Coinbase's stock price is $180.07, down 4.56% in the last 24 hours and 31.85% in the previous month.