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Coinbase's Market Cap Soars While Uniswap's Remains Stagnant Despite Broader Crypto Rally

Despite the recent surge in global equities and cryptocurrencies, the market capitalization of DeFi exchange Uniswap has remained steady at around $4 billion, while Coinbase's market cap has increased from over $7 billion to nearly $25 billion. The ratio between the two firms' market caps has hit a yearly high of 6.2 on July 13.

Coinbase's shares rallied more than 20% on Thursday after a judge ruled that Ripple Lab's sales of XRP on exchanges did not violate securities laws, prompting private investment firm WedBush to increase its price target on the company to $110. Needbush also raised its price target to $120 from $70 following the decision.

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