William Blair keeps Outperform on Coinbase and Circle despite slashing estimates
- —2026 Coinbase revenue forecast cut 12%, 2027 estimate cut 13%
- —EBITDA projections slashed 34% for both years
- —Platform trading volume seen falling 44% in 2026 to $669 billion
- —USDC market share rose to about 27% in April 2026 from 21% in 2024
Why it matters: The call suggests the market has already absorbed the trading slump, with derivatives, prediction markets and USDC seen as the recovery drivers.
Source: Crypto Briefing