William Blair: Coinbase Stock Price Post-Selloff 'De-Risks,' USDC Growth a Boon to Its and Circle's Prospects

BlockBeats News, April 13th. According to The Block's report on April 13th, investment bank William Blair released a report stating that the stock price of the cryptocurrency exchange Coinbase has appeared "risk-off" after experiencing a sell-off in the first quarter. Currently, Coinbase's stock price is still down by about 60% from its historical peak in July 2025 ($445).

The report pointed out that the market's expectations of weak trading volume and revenue for Coinbase have been reflected in the stock price. Its "all-in-one trading platform" product line (including derivatives, staking, stock trading, and prediction markets) is enhancing its competitive advantage.

A key bullish factor is the growth of USDC. Data shows that USDC's share in the $300 billion stablecoin market has increased from around 21% in 2024 to about 27% currently, continuously taking market share from Tether's USDT.

William Blair believes that the widespread use of USDC is mutually beneficial for Coinbase and its issuer Circle, and is optimistic about Circle's prospects. Furthermore, the report states that a sustained downturn in the crypto market over the next one to two years is a "low-probability event," and if the market recovers, Coinbase will offer "asymmetric upside potential."