Coinbase Might Lose Its Dominance as Competition Heats Up
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Coinbase is facing increased competition that may threaten its market dominance, according to a Financial Times report. Analysts suggest that new crypto-friendly regulations in the US are intensifying rivalry, particularly from Asian exchanges and traditional finance firms like BNY Mellon. Despite a recent stock performance dip, with a 33% correction from its peak, Coinbase's shares are still up 25% year-to-date. Some industry experts argue that increased competition could ultimately benefit the market by reducing reliance on a single major custodian.
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