<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/b3/4101.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="635" height="400" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/b3/4101.jpg"/></p>
<p><em>圖片來源：Shutterstock</em></p>
<h3><strong>關鍵要點</strong></h3>
<ul>
<li>Coinbase 正在推進其集中式 DeFi 集成並擴大機構合作關係。</li>
<li>公司在 2025 年完成了九項收購，並通過對 CoinDCX 的投資重新進入印度市場。</li>
<li>Coinbase 計劃在 2026 年通過 RWA 永續合約、DeFi 基礎設施和 AI 驅動的交易創新來引領市場。</li>
</ul>
<p>Coinbase Global (COIN - 免費報告) 正在為強勁的 2026 年做好準備，利用 2025 年的活躍勢頭，同時執行其長期戰略路線圖。今年，Coinbase 通過推出 Solana 訪問的 DEX 交易，推進了集中式和去中心化生態系統的整合，這是將其核心平台與鏈上流動性連接的重要一步，並支持其統一集中式–DeFi 體驗的願景。</p>
<p>Coinbase 還繼續加強傳統金融與數字資產之間的聯繫。該公司與包括摩根大通、花旗和 PNC 在內的主要銀行合作，並與美國領先的金融機構就涉及穩定幣、託管和交易的試點項目進行討論。</p>
<p>有利的監管環境和對數字資產作為銀行服務的日益接受似乎成為了助力。值得注意的是，PNC 銀行最近為其高淨值私人客户啓用了直接比特幣交易，突顯了這種情緒的轉變。</p>
<p>併購也是一個關注領域，Coinbase 在 2025 年完成了九項收購，以擴展能力並加速產品開發。國際增長仍然是一個優先事項。Coinbase 在近三年後重新進入印度市場，得益於對 CoinDCX 的投資，後者是印度和中東地區領先的交易所。</p>
<p>展望 2026 年，Coinbase 的戰略重點領域包括真實世界資產 (RWA) 永續合約、專業交易所和交易終端、下一代 DeFi 基礎設施，以及 AI 和機器人技術的整合。通過這些舉措，Coinbase 旨在建立一個全面的產品和服務生態系統，並鞏固其作為行業首屈一指的 “全能交易所” 的地位。</p>
<h3><strong>同行情況如何？</strong></h3>
<p>Robinhood Markets (HOOD - 免費報告) 一直專注於通過快速的產品創新和全球擴張來加速增長。Robinhood 一直在進行機會性收購，以加深其在美國及全球的足跡和產品覆蓋。</p>
<p>Robinhood 還指出，AI 功能和快速推出正在增加用户參與度、優質貨幣化和客户留存，而更強大的工具吸引了零售和高級交易者。</p>
<p>Interactive Brokers (IBKR - 免費報告) 繼續在台灣、墨西哥和印度等新興市場探索增長機會。鑑於其歐洲業務的快速增長，Interactive Brokers 在那裏大幅擴展了其運營。此外，Interactive Brokers 還採取了多項措施以增強其全球存在。</p>
<h3><strong>Coinbase 的價格表現</strong></h3>
<p>Coinbase 股票年初至今上漲了 10.7%，表現優於行業。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/18/135657.jpg/query-dj02OTY4MDY1MTc?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="620" height="291" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/18/135657.jpg/query-dj02OTY4MDY1MTc"/></p>
<p><em>圖片來源：Zacks 投資研究</em></p>
<h3><strong>Coinbase 的高估值</strong></h3>
<p>Coinbase 股票最近的市盈率為 44.93，顯著高於行業平均水平 24.32。它的價值評分為 D。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/aa/135658.jpg/query-dj01ODQwOTc0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="620" height="165" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/aa/135658.jpg/query-dj01ODQwOTc0"/></p>
<p><em>圖片來源：Zacks 投資研究</em></p>
<h3><strong>Coinbase 的預估</strong></h3>
<p>Zacks 共識預估顯示，Coinbase 2025 年第四季度的每股收益預估在過去七天內下調了 2 美分，而 2026 年第一季度的預估在過去七天內沒有修訂。2025 年和 2026 年的每股收益共識預估在過去七天內分別下調了 0.6% 和 1%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/1d/136662.jpg/query-dj0yMTE5OTYwMzQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="620" height="171" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/1d/136662.jpg/query-dj0yMTE5OTYwMzQ"/></p>
<p><em>圖片來源：Zacks 投資研究</em></p>
<p>Coinbase 2025 年和 2026 年的收入共識預估顯示出同比增長。儘管公司 2025 年的每股收益共識預估顯示出同比增長，但 2026 年的預估則顯示出下降。</p>
<p>Coinbase 股票目前的 Zacks 排名為 #3（持有）。</p>
<hr/>
<p><em>更多來自此作者的內容：</em></p>
<p>埃森哲第一季度財報預覽：現在買入還是等待結果？</p>
<p>AT&amp;T 與 Comcast：你應該押注哪隻電信股票？</p>
<p>Lululemon 股票在強勁的第三季度業績後會繼續反彈嗎？</p>

COIN

2 倍做多 COIN ETF - GraniteShares

南方兩倍做空Coinbase

<p>Coinbase 正在為強勁的 2026 年做好準備，通過推進去中心化金融（DeFi）整合、擴大機構合作伙伴關係，並在 2025 年完成九項收購。該公司正通過對 CoinDCX 的投資重新進入印度市場，並旨在在真實資產（RWA）永續合約、DeFi 基礎設施和人工智能驅動的交易領域領先。儘管估值較高，Coinbase 的股票年初至今已上漲 10.7%。Zacks 共識預估顯示 2025 年和 2026 年的每股收益（EPS）前景混合，Zacks 排名為 #3（持有）</p>

<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/b3/4101.jpg" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/main/b3/4101.jpg"/></p>
<p><em>Image: Shutterstock</em></p>
<div class="lb-trans"><p><em>圖片來源：Shutterstock</em></p>
</div><h3><strong>Key Takeaways</strong></h3>
<div class="lb-trans"><h3><strong>關鍵要點</strong></h3>
</div><ul>
<li>Coinbase is advancing its centralized DeFi integration and expanding institutional partnerships.</li>
<li>The company completed nine acquisitions in 2025, and it is re-entering India via investment in CoinDCX.</li>
<li>Coinbase aims to lead with RWA perpetuals, DeFi infrastructure, and AI-driven trading innovations in 2026.</li>
</ul>
<div class="lb-trans"><ul>
<li>Coinbase 正在推進其集中式 DeFi 集成並擴大機構合作關係。</li>
<li>公司在 2025 年完成了九項收購，並通過對 CoinDCX 的投資重新進入印度市場。</li>
<li>Coinbase 計劃在 2026 年通過 RWA 永續合約、DeFi 基礎設施和 AI 驅動的交易創新來引領市場。</li>
</ul>
</div><p>Coinbase Global (COIN - Free Report) is poised for a strong 2026 as it builds on the momentum of an active 2025 while executing on its long-term strategic roadmap. This year, Coinbase advanced its efforts to integrate centralized and decentralized ecosystems by launching DEX trading for Solana access—an important step toward linking its core platform with on-chain liquidity and supporting its vision of a unified centralized–DeFi experience.</p>
<div class="lb-trans"><p>Coinbase Global (COIN - 免費報告) 正在為強勁的 2026 年做好準備，利用 2025 年的活躍勢頭，同時執行其長期戰略路線圖。今年，Coinbase 通過推出 Solana 訪問的 DEX 交易，推進了集中式和去中心化生態系統的整合，這是將其核心平台與鏈上流動性連接的重要一步，並支持其統一集中式–DeFi 體驗的願景。</p>
</div><p>Coinbase also continued strengthening ties between traditional finance and digital assets. The company has collaborated with major banks, including JPMorgan, Citi, and PNC, and is in discussions with leading U.S. financial institutions on pilot programs involving stablecoins, custody, and trading.</p>
<div class="lb-trans"><p>Coinbase 還繼續加強傳統金融與數字資產之間的聯繫。該公司與包括摩根大通、花旗和 PNC 在內的主要銀行合作，並與美國領先的金融機構就涉及穩定幣、託管和交易的試點項目進行討論。</p>
</div><p>A favorable regulatory climate and growing acceptance of digital assets as banking services seems to work as a tailwind. Notably, PNC Bank recently enabled direct Bitcoin trading for its high-net-worth private clients, underscoring this shift in sentiment.</p>
<div class="lb-trans"><p>有利的監管環境和對數字資產作為銀行服務的日益接受似乎成為了助力。值得注意的是，PNC 銀行最近為其高淨值私人客户啓用了直接比特幣交易，突顯了這種情緒的轉變。</p>
</div><p>M&amp;A has been another area of focus, with Coinbase completing nine acquisitions in 2025 as it expands capabilities and accelerates product development. International growth remains a priority as well. Coinbase is re-entering India’s market after nearly three years, supported by an investment in CoinDCX, a leading exchange across India and the Middle East.</p>
<div class="lb-trans"><p>併購也是一個關注領域，Coinbase 在 2025 年完成了九項收購，以擴展能力並加速產品開發。國際增長仍然是一個優先事項。Coinbase 在近三年後重新進入印度市場，得益於對 CoinDCX 的投資，後者是印度和中東地區領先的交易所。</p>
</div><p>Looking ahead to 2026, Coinbase’s strategic focus areas include real-world asset (RWA) perpetuals, specialized exchanges and trading terminals, next-generation DeFi infrastructure, and the integration of AI and robotics. With these initiatives, Coinbase aims to build a comprehensive product and service ecosystem and solidify its position as the industry’s premier “everything exchange.”</p>
<div class="lb-trans"><p>展望 2026 年，Coinbase 的戰略重點領域包括真實世界資產 (RWA) 永續合約、專業交易所和交易終端、下一代 DeFi 基礎設施，以及 AI 和機器人技術的整合。通過這些舉措，Coinbase 旨在建立一個全面的產品和服務生態系統，並鞏固其作為行業首屈一指的 “全能交易所” 的地位。</p>
</div><h3><strong>What About its Peers?</strong></h3>
<div class="lb-trans"><h3><strong>同行情況如何？</strong></h3>
</div><p>Robinhood Markets (HOOD - Free Report) has stayed focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally.</p>
<div class="lb-trans"><p>Robinhood Markets (HOOD - 免費報告) 一直專注於通過快速的產品創新和全球擴張來加速增長。Robinhood 一直在進行機會性收購，以加深其在美國及全球的足跡和產品覆蓋。</p>
</div><p>Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization, and retention, while stronger tools attract both retail and advanced traders.</p>
<div class="lb-trans"><p>Robinhood 還指出，AI 功能和快速推出正在增加用户參與度、優質貨幣化和客户留存，而更強大的工具吸引了零售和高級交易者。</p>
</div><p>Interactive Brokers (IBKR - Free Report) has continued to explore growth opportunities in the emerging markets of Taiwan, Mexico, and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Additionally, Interactive Brokers has been undertaking several measures to enhance its global presence.</p>
<div class="lb-trans"><p>Interactive Brokers (IBKR - 免費報告) 繼續在台灣、墨西哥和印度等新興市場探索增長機會。鑑於其歐洲業務的快速增長，Interactive Brokers 在那裏大幅擴展了其運營。此外，Interactive Brokers 還採取了多項措施以增強其全球存在。</p>
</div><h3><strong>Coinbase’s Price Performance</strong></h3>
<div class="lb-trans"><h3><strong>Coinbase 的價格表現</strong></h3>
</div><p>Shares of Coinbase stock have gained 10.7% year-to-date, outperforming the industry.</p>
<div class="lb-trans"><p>Coinbase 股票年初至今上漲了 10.7%，表現優於行業。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/18/135657.jpg/query-dj02OTY4MDY1MTc" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/18/135657.jpg?v=696806517"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>圖片來源：Zacks 投資研究</em></p>
</div><h3><strong>Coinbase’s Expensive Valuation</strong></h3>
<div class="lb-trans"><h3><strong>Coinbase 的高估值</strong></h3>
</div><p>Coinbase stock has recently been trading at a price-to-earnings value ratio of 44.93, which is significantly above the industry average of 24.32. It carries a Value Score of D.</p>
<div class="lb-trans"><p>Coinbase 股票最近的市盈率為 44.93，顯著高於行業平均水平 24.32。它的價值評分為 D。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/aa/135658.jpg/query-dj01ODQwOTc0" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/aa/135658.jpg?v=5840974"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>圖片來源：Zacks 投資研究</em></p>
</div><h3><strong>Estimates for Coinbase</strong></h3>
<div class="lb-trans"><h3><strong>Coinbase 的預估</strong></h3>
</div><p>The Zacks Consensus Estimate for Coinbase’s fourth-quarter 2025 EPS has moved 2 cents south in the past seven days, while the same for first-quarter 2026 has witnessed no revision in the past seven days. The consensus estimates for 2025 and 2026 EPS have moved south by 0.6% and 1%, respectively, in the past seven days.</p>
<div class="lb-trans"><p>Zacks 共識預估顯示，Coinbase 2025 年第四季度的每股收益預估在過去七天內下調了 2 美分，而 2026 年第一季度的預估在過去七天內沒有修訂。2025 年和 2026 年的每股收益共識預估在過去七天內分別下調了 0.6% 和 1%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/1d/136662.jpg/query-dj0yMTE5OTYwMzQ" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/1d/136662.jpg?v=211996034"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>圖片來源：Zacks 投資研究</em></p>
</div><p>The consensus estimates for Coinbase’s 2025 and 2026 revenues appear to indicate year-over-year increases. Though the consensus estimate for the company’s 2025 EPS indicates a year-over-year increase, the same for 2026 indicates a decline.</p>
<div class="lb-trans"><p>Coinbase 2025 年和 2026 年的收入共識預估顯示出同比增長。儘管公司 2025 年的每股收益共識預估顯示出同比增長，但 2026 年的預估則顯示出下降。</p>
</div><p>Coinbase stock currently carries a Zacks Rank #3 (Hold) rating.</p>
<div class="lb-trans"><p>Coinbase 股票目前的 Zacks 排名為 #3（持有）。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多來自此作者的內容：</em></p>
</div><p>Accenture Q1 Earnings Preview: Buy Now Or Wait For The Results?</p>
<div class="lb-trans"><p>埃森哲第一季度財報預覽：現在買入還是等待結果？</p>
</div><p>AT&amp;T Versus Comcast: Which Telecom Stock Should You Bet On?</p>
<div class="lb-trans"><p>AT&amp;T 與 Comcast：你應該押注哪隻電信股票？</p>
</div><p>Will Lululemon Stock Keep Rebounding After Strong Q3 Results?</p>
<div class="lb-trans"><p>Lululemon 股票在強勁的第三季度業績後會繼續反彈嗎？</p>
</div>

Is Coinbase Setting The Stage For A Strong And Strategic 2026?

- Coinbase 在 2025 年完成九項收購，重返印度市場投資 CoinDCX。  
- 公司計劃在 2026 年專注於 RWA 永續合約和 DeFi 基礎設施。  
- Coinbase 股票年初至今上漲 10.7%，但市盈率高於行業平均水平。  

Coinbase 是否正在為一個強勁且具有戰略意義的 2026 年奠定基礎？