Goldman Sachs Coinbase Upgrade to Buy Signals New Era for Crypto Stock

Goldman Sachs Coinbase Upgrade with Strong Growth Outlook

Wall Street's stance on the digital asset world just took a massive turn toward the bullish. In a move that’s catching everyone’s attention today, a Goldman Sachs Coinbase upgrade has officially bumped the exchange's stock from "neutral" to "buy." It’s not simply a small nudge, either; the bank slapped a $303 price target on COIN, implying that they see a massive 30% upside from where it sits now.

Source: Google Finance 

This shift comes at a perfect time. As of this morning, January 6, 2026, the total crypto market cap is sitting pretty at $3.30 trillion, while Bitcoin is holding its ground at $93,866. For the analysts at Goldman, the story isn't just about people buying and selling coins anymore; it’s about who owns the plumbing of the new financial system.

Why Goldman is Betting Big on the "Coinbase Infrastructure"

The real "meat" of this Goldman Sachs Coinbase upgrade lies in how the company makes its money. For years, skeptics joked that COIN was just a glorified casino. But James Yaro and his team at Goldman have pointed out a major change: about 40% of Coinbase’s revenue now comes from "Subscription and Services" like custody and staking. Five years ago, that number was practically zero.

By becoming a service provider rather than just a trading floor, Coinbase has insulated itself from the wild mood swings of retail traders. With nearly half of the U.S. exchange market in its pocket and $500 billion in assets under custody, COIN is evolving into the "bank of Web3." This bank expects them to grow their revenue at a 12% clip through 2027, which is miles ahead of most of their competitors.

The Flip Side: eToro Feels the Pressure

While Coinbase is getting all the love, the outlook for eToro looks a bit more crowded. Goldman actually downgraded eToro to "neutral," dropping their target to $39. The issue? Competition is getting fierce. As giants like Robinhood and The platform sharpen their tools and expand into new regions, legacy platforms are finding it harder (and more expensive) to keep their users. It’s a classic case of the market maturing the players with the best "tech infrastructure" are starting to pull away from the pack.

Source: X(formerly Twitter)

Lighter (LIT) and the Rise of On-Chain Revenue

The bullishness isn't just limited to the stock market. Over in the DeFi world, we’re seeing similar "value-driven" moves. The protocol Lighter just launched a massive buyback for its LIT token. As of today, they've already used protocol fees to buy back over 180,000 LIT, helping push the token price to $3.06 a 16% jump in 24 hours.

Whether it’s a Wall Street giant like Goldman or a decentralized DEX like Lighter, the message in 2026 is clear: real utility and revenue are king.

Conclusion

Goldman isn't just chasing a pump; they are recognizing that Coinbase has built an unshakeable moat in the custody and institutional space. If COIN can break through the $300 resistance, we’re likely looking at a massive flood of institutional capital into the sector. The era of "speculation only" is officially dead; we are now in the era of crypto as a core financial utility.

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