Online reported that 10x Research released a report saying that its regression model showed that despite the strong upward trend of Coinbase's share price, it was overvalued. The report also analyzed the reasons for Coinbase's rise: Coinbase (Shares above 7-day moving average-> bullish, also above 30-day moving average-> bullish, 1-week change +47.8%) Driven by the increase in Bernstein's target price to $510, citing its stablecoin business and institutional services; Senate passage of the GENIUS Act, which increased transparency in stablecoin regulation, pushed its share price up 5.5% to $374.97; The US-regulated Bitcoin and Ethereum perpetual futures will be launched on July 21, further stimulating investor enthusiasm; Circle's successful IPO and revenue sharing between Coinbase and USDC have consolidated its market position and supported price increases.