7 Most Profitable Cryptocurrency Stocks To Invest In

1. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Hedge Fund Holders: 45

TTM Net Income: $1.48 Billion

Coinbase Global, Inc. (NASDAQ:COIN) provides a trusted platform that makes it easy for people and institutions to engage with crypto assets. The firm also provides critical infrastructure for onchain activity and support builders. Coinbase aims to fulfill its mission of improving economic freedom in the world.

245,000 ecosystem partners in over 100 countries trust the firm to save, earn, spend, and use crypto. Coinbase’s success in building a global platform is due to five key strengths. These include the trust it has built as one of the longest-running crypto platforms where customers have lost no funds due to a security breach, its crypto-first technology, and easy-to-use products despite the complex underlining technology. The other two competitive advantages include repeatable innovation and a significant scale.

Coinbase’s second quarter marked the sixth consecutive quarter of positive adjusted EBITDA. Primarily driven by stablecoin revenue and blockchain rewards revenue, growth across the board was witnessed. Although transaction revenue was down 27% from last quarter, subscription and services revenue was at an all-time high, growing 17% quarter-over-quarter to $599 million. The firm also reduced the Base fees in the quarter which resulted in 300% quarter-over-quarter growth in the number of transactions on Base.

In conclusion, Coinbase Global, Inc. (NASDAQ:COIN) has the vision, technology, and people needed to truly power the crypto economy. The firm successfully and securely stores over $90 billion in assets on the platform. With a market-leading share of assets on its platform and the aforementioned competitive edges, Coinbase serves as a leading crypto company.

While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than COIN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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