Coinbase (COIN) Stock Hits 52-Week High, Nears All-Time Record Amid Crypto Rally
Coinbase Global (COIN) stock reached a new 52-week high, peaking at $369.25 and trading around $352, marking a 2% gain. The stock has rebounded 133% from its April low and is within 2% of its record closing price of $357.39. Coinbase's market capitalization stands at $89.6 billion, reflecting its status as a leading crypto-focused company. The stock has increased over 42% since the beginning of the year, driven by rising Bitcoin prices, favorable regulatory developments, and steady revenue growth. First-quarter revenue rose 24.2% year-over-year to $2.03 billion, with subscription and services revenue growing 36.3%. Coinbase shares are also benefiting from the successful IPO of Circle Internet Group, which has seen its stock surge from $31 to over $200. Coinbase and Circle have a significant partnership involving the USDC stablecoin, with Coinbase recently reclaiming the top position in VanEck’s digital assets equity index.
