Oppenheimer has raised its price target for Coinbase (COIN) to $276 from $200, citing the continued adoption of digital assets and the approval of a spot Bitcoin ETF in January as key factors. The firm estimates that Coinbase's 1Q24 trading volume will increase by 95% quarter-over-quarter and 107% year-over-year to $300 billion. The analyst noted that while there is caution about near-term volatility, the outlook remains positive due to the long-term adoption of blockchain technology, reiterating Coinbase at 'outperform'. Additionally, KBW has also raised its price target for Coinbase to $230 from $160, highlighting the company's unique position in offering investors exposure to the long-term growth of the crypto economy.