According to JPMorgan, the upcoming Shanghai hard fork on the Ethereum network and the “problem beneficiary” status of crypto platforms following the collapse of FTX support JPMorgan’s “neutral” rating on Coinbase shares.
The bank experts have estimated at 95% the share of customers who will express interest in staking Ethereum after the upcoming update of the ETH network.
The analysts of the bank have drawn an analogy with the “automatic registration” of exchange clients in the service in relation to Cardano and Solana. Now this happens in “manual mode” due to the lack of the possibility of withdrawing coins.
They predict the “new post-Shanghai era” will add an additional $225-545 million to Coinbase’s annual revenue.