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JPMorgan Raises Coinbase Price Target to $150, Cites Ether as Key Driver of Earnings

JPMorgan has stated that the Ethereum network and its token ether (ETH) could have a significant impact on the wider cryptocurrency ecosystem and be a positive driver of Coinbase's earnings. The bank has raised its price target for Coinbase to $150 from $95 to reflect the crypto market rally and the positive impact of ether on the exchange's revenue. JPMorgan also sees the progression along the Ethereum roadmap, including the recent Dencun upgrade, as driving crypto development and creating a longer-term positive for Coinbase. The bank believes that the longer-term success of Coinbase will be driven by development, with a focus on tokenization and payments.

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