PANews reported on June 29 that 10x Research released a report saying that its regression model shows that despite the strong upward trend of Coinbase's stock price, its valuation is overvalued. Recently, Coinbase's stock price has continued to rise with the help of multiple positive factors: Coinbase (stock price above 7-day moving average -> bullish, also above 30-day moving average -> bullish, 1-week change +47.8%) was driven by Bernstein's target price increase to $510, citing its stablecoin business and institutional services; the Senate passed the GENIUS Act, which increased the transparency of stablecoin regulation, pushing its stock price up 5.5% to $374.97; the US-regulated Bitcoin and Ethereum perpetual futures will be launched on July 21, which further stimulated investor enthusiasm; Circle's successful IPO and Coinbase's revenue sharing with USDC consolidated its market position and supported price increases.