Coinbase outlooks are mixed ahead of Q2 earnings

Key Points

1. Coinbase's stock price doubled during Q2, attributed to its S&P 500 inclusion and the passage of the GENIUS Act.

2. Q2 trading volume is estimated at ~$220 billion, a 44% decline from the previous quarter.

3. Analysts highlight regulatory progress, including the GENIUS Act and potential passage of the CLARITY Act, as positive factors for Coinbase.

4. Coinbase's partnership with JPMorgan Chase allows Chase customers to link their bank accounts, potentially expanding its user base.

5. Despite upgrades in fair value estimates, some analysts still consider Coinbase shares 'significantly overvalued'.