"With the rise of prediction markets and asset tokenization, it seems like Coinbase ( NASDAQ:COIN) has a front-row seat to two of the hottest emerging growth drivers that could power its shares to an impressive comeback in the new year, even as the crypto trade begins to exhibit a bit of weakness. With Bitcoin ( CRYPTO:BTC) prices retreating a bit to close off what's been a rather uneventful year, it seems like it's too early in the game to be reaching for the crypto-related stocks right here."
"After a few strong sessions for the AI stocks, it seems like the latest wave of tech-driven volatility is less of an AI bubble bust and more of just a seasonal sector-based correction of sorts. In any case, Coinbase stock has been in a fragile spot in recent months, with shares of the popular cryptocurrency exchange platform now down more than 40% from their all-time highs."
Coinbase has strategic exposure to prediction markets and asset tokenization that could power share recovery. Bitcoin prices have retreated and the crypto trade showed weakness, making crypto-related stocks premature buys for some investors. Tech and AI volatility appears more like a seasonal sector correction rather than an AI bubble bust, and a renewed risk-on tech rally could lift crypto markets. Coinbase shares have fallen over 40% from all-time highs and remain fragile. The company's move into prediction markets represents a potentially massive growth opportunity and could add a revenue stream that smooths results during crypto market downturns.
Read at 24/7 Wall St.
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