PANews reported on October 3 that according to CNBC, investment bank Rothschild & Co. has raised the stock rating of cryptocurrency exchange Coinbase (COIN) from "neutral" to "buy" and raised its target price to $320.

Rothschild cited in the report that the upgrade was primarily due to its optimistic outlook on the accelerating application and adoption of cryptocurrencies in traditional finance. Analysts believe that with increasing institutional demand and the development of trends such as tokenization, Coinbase, as a regulated industry leader, will be a major beneficiary of this trend.