Coinbase also faces competition from TradFI exchanges that are embracing crypto amid this latest digital asset market resurgence.
Robinhood, which acquired Bitstamp last spring, is one such trading platform that is actively expanding its crypto services and could pose a threat to Coinbase, Moley said. The stock and crypto platform offers support for the trading of 19 tokens, in addition to staking for Solana and Ethereum, its website shows.