Bank of America upgraded Coinbase shares to buy from neutral, leaving the price target unchanged at $340.The upgrade was due to increasing signs of revenue diversification beyond just retail crypto trading, a trend which it thinks will accelerate further this year, the bank said in a note on Thursday.The bank forecasts subscription and services revenue to increase to 16% of the … [Read more...] about BofA Upgrades Coinbase to Buy, Sees Revenue Diversification Beyond Retail Crypto Trading
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BofA Says Avalanche’s Scaling Capability Offers Viable Alternative to Ethereum
Smart-contract platform Avalanche’s ability to scale while remaining secure and decentralized makes it a credible alternative to Ethereum for DeFi projects, NFTs, gaming and other assets, Bank of America said in a research report.Avalanche’s subnet feature is increasing adoption, the bank said, with more than 380 projects built on the platform.“Subnets enable faster time-to … [Read more...] about BofA Says Avalanche’s Scaling Capability Offers Viable Alternative to Ethereum
Fund Managers Expect Bitcoin Price Over $75k in 12 Months: BofA Survey
Most global fund managers expect the price of bitcoin to surpass $75,000 in 12 months, according to a Bank of America survey of global fund managers seen by CoinDesk.A quarter of fund managers expect the price of bitcoin to be over $75,000 in one year, compared with 20% who think it will remain relatively flat, between $50,000 and $75,000, and 19% who think it will fall to … [Read more...] about Fund Managers Expect Bitcoin Price Over $75k in 12 Months: BofA Survey