MONNESS lowers Coin rating from buy to neutral Although recent milestones in the cryptocurrency field such as the stablecoin bill, Circle's IPO, and the CLARITY bill have positive implications, the company hopes to see more practical applications and trading volume growth, especially on Base, in order to become more bullish. The current valuation is overly dependent on market sentiment and assumes a significant increase in cryptocurrency trading volume, which the company believes is uncertain in the later stages of the current cycle.