JPMorgan says Coinbase will be a meaningful beneficiary’ of the Ethereum Merge

Kenneth Worthington, an analyst at JPMorgan (NYSE: JPM), thinks that Coinbase (NASDAQ: COIN) will be a “meaningful beneficiary” of the highly anticipated Ethereum (ETH) blockchain Merge upgrade which is scheduled for August 15. which Worthington notes should result in better income generation for Coinbase itself, as per a StreetInsider report on August 17. Notably, as the Merge nears, the total amount of its staked native token ETH has recorded a new all-time high, almost doubling across the previous year despite its price declining by 43% during the same period.