Coinbase Slips to 51st in Market Rankings Amid 17% Decline Despite Cantor Fitzgerald Upgrade

On April 8, 2025, Coinbase Global (COIN) experienced a 3.69% decline, marking its fourth consecutive day of losses, with a total decrease of 17.21% over the past four days. The trading volume for the day was $1.729 billion, placing it 51st in the overall market rankings.

Cantor Fitzgerald has upgraded Coinbase's stock to 'Overweight,' suggesting that Wall Street may be underestimating the company's potential. This positive outlook from the asset manager highlights the strength of Coinbase's Ethereum-based network, which has been a significant driver of its growth and market position.

Despite the recent downturn, the upgrade from Cantor Fitzgerald indicates a bullish sentiment towards Coinbase. The firm's analysts believe that the company's strategic positioning in the cryptocurrency market, particularly its Ethereum-based network, provides a strong foundation for future growth. This assessment comes at a time when the broader market is focusing on other sectors, such as artificial intelligence, potentially overlooking the opportunities in the cryptocurrency space.