Crypto exchange Coinbase (COIN) has teamed up with Perplexity AI, a web search engine, in order to bring real-time crypto market data into an artificial intelligence platform. The goal is to give traders better tools for analyzing price movements through an AI-powered interface. Coinbase CEO Brian Armstrong announced the partnership on Thursday and explained that it will offer users a more intuitive way to understand and respond to market changes.
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It is worth noting that the first phase of this collaboration is already live, and Perplexity has begun using Coinbase’s market data to provide detailed insights into price activity. According to Armstrong, users can now “double-click” into specific price movements, which will allow them to make better-informed trading decisions directly within Perplexity’s platform.
Interestingly, the next stage of the partnership will further integrate Coinbase’s data into Perplexity’s responses to user questions. As a result, traders will be able to track market trends, find trade ideas, and break down individual token moves in a conversational AI format. Armstrong added that he believes these improved crypto features could help AI unlock even greater potential in the financial space. Moreover, this announcement pushed COIN’s stock higher after starting the day in the red, as investors seemed to overlook H.C. Wainwright’s double downgrade to Sell.
Is COIN a Good Stock to Buy Now?
Turning to Wall Street, COIN stock has a Moderate Buy consensus rating based on 14 Buys and 10 Hold ratings. Furthermore, the average Coinbase price target of $301.10 implies 21.4% downside risk from current levels.
