Coinbase (COIN) stock made a sharp 8% upside on Jan. 5 after banking giant Goldman Sachs upgraded the stock in its latest report. The bank cited growth in tokenization, crypto infrastructure, and prediction markets as key drivers behind its bullish outlook. This happens as Coinbase makes a move to become the “everything exchange” in 2026.

After ending 2025 in a negative territory, the COIN stock is seeing fresh buying interest from investors. On Jan. 5, the stock closed at $254, while extending its year-to-date gains to 10.56%.

Goldman Sachs’ “buy” rating for the Coinbase stock provided the much-needed catalyst for the rally. Goldman Sachs said recent product launches, along with a rising contribution from infrastructure-related revenue, have strengthened the exchange’s long-term growth outlook.

GS upgrade $COIN from neutral to BUY.
"Selectively more optimistic on crypto."
"Shift to structural growth through growing derivatives business, best-in-class crypto infrastructure businesses, and new, secularly growing products, particularly tokenization/prediction markets" pic.twitter.com/9vuBZR1ICX

— matthew sigel, recovering CFA (@matthew_sigel) January 5, 2026

The bank set a COIN price target of $303, representing about 34% upside from recent lows near $225. The upgrade shows Coinbase’s broader expansion into new trading offerings announced in December, including US equities, prediction markets, derivatives, and enhanced banking services.

The bank estimates these segments now contribute around 40% of Coinbase’s revenue, up from less than 5% five years ago.

The native COIN stock has already started trading on the exchange, showing that it’s ready for stock trading. Coinbase CEO Brian Armstrong celebrated this development with a “feels good” message on the X platform.

One of the users questioned why someone would buy stocks on Coinbase instead of their existing brokerage accounts. Armstrong responded that the company’s strategy is built around offering a single platform where users can access a broad range of financial products.

Apart from crypto trading, the platform is also focused on expanding financial services, such as lower-rate loans, credit cards with enhanced rewards, and near-instant global money transfers at minimal cost.

Armstrong believes that traditional brokerage platforms focus on stock trading primarily. However, according to him, modern users are looking for integrated platforms that combine investing, payments, and financial services.

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