Coinbase (COIN) – Doubling Down on the Crypto Infra PlayCoinbase Global, Inc.BATS:COINalphamonk10Coinbase just reported Q3 2025, smashing revenue and subscription targets while growing institutional custody to a record $516B (12.9% market share of $4T crypto cap). Despite short-term cash flow volatility linked to strategic USDC positioning, the company’s free cash flow and balance sheet remain healthy. Technically, COIN is consolidating near $290-$340. This is a great entry zone for patient bulls seeking exposure to crypto’s regulated on-ramp. The valuation is fair today but poised for upside as crypto adoption and regulatory clarity deepen. Base Case target remains a convincing $600+ by 2030, with upside to $2500+ in a super-bull scenario. Competition and international expansion pose risks, but Coinbase’s operating leverage and market position underpin a strong growth outlook. Long-Term Bull on Coinbase—for those investing in crypto's durable infrastructure growth. For full details, valuation analysis, and scenario modeling, read my analysis of Coinbase's Q3 results on Substack: https://alphamonk10.substack.com/p/the-everything-exchange-coinbase?r=4ytd95