Coinbase (COIN) has established the industry’s most scaled crypto trading platform with a domestic share of about 66%, broker Benchmark said in a report on Wednesday, while also launching the stock coverage.

Benchmark took over cover of coinbase with a purchase rating and a price target of $ 252. The shares were over 4% higher at about $ 198 in early trade.

Crypto Exchange offers a “comprehensive package of products and services aimed at facilitating the adoption and use of digital assets from both retail and institutional investors,” wrote analyst Mark Palmer.

The broker noted that the stock has been almost halved since the beginning of December, and at the current level the stock price does not soon reflect it to improve the crypto environment.

Aktieburst’s underpresty may have ended as crypto regulatory clarity is approaching in the US, especially for stableecoins, where Coinbase has skin in the game with its involvement in USD COIN (USDC), the report said.

Regulation is coming. Earlier this month, a representatives’ committee joined Senate’s colleagues in promoting a bill to be considered by the overall house, which brought stablecoin rules closer to reality.

“As these important pieces of digital assets are adopted in the coming months, there may be a new wave of demand for crypto of an expanded set of institutional investors,” Palmer said.

The company’s diversified product offerings are also a positive and Coinbase’s valuation is set to take advantage of its faster growing subscription and service offering, “the report added.

Read more: StableCOin market could grow to $ 2T at Slut-20128: Standard Charter