COIN

Bitcoin

April

USDC

Coinbase’s COIN stock has rallied to its highest point since late April 2022 at $115, representing a 216% growth on the year-to-date metric, according to Tradingview <a href="https://www.tradingview.com/symbols/NASDAQ-COIN/">data</a>. 
Observers have linked COIN’s price performance to the <a href="https://cryptoslate.com/investor-confidence-in-digital-assets-soars-as-etp-inflows-surpass-1-billion-in-2023/">generally positive trend&nbsp;</a>observed in the crypto space, where flagship digital assets like Bitcoin,&nbsp;<a href="https://cryptoslate.com/ethereum-trades-above-2k-for-the-first-time-in-almost-a-year/">Ethereum</a>, and Solana have&nbsp;recorded more than 100% gains during the past year. 
<figure id="attachment_376568" aria-describedby="caption-attachment-376568" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-376568" src="https://cryptoslate.com/wp-content/uploads/2023/11/COIN_2023-11-24_20-46-19.png" alt="Coinbase stock" width="1827" height="574" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/COIN_2023-11-24_20-46-19.png 1827w, https://cryptoslate.com/wp-content/uploads/2023/11/COIN_2023-11-24_20-46-19-300x94.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/COIN_2023-11-24_20-46-19-1024x322.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/COIN_2023-11-24_20-46-19-768x241.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/COIN_2023-11-24_20-46-19-1536x483.png 1536w" sizes="(max-width: 1827px) 100vw, 1827px">
 <figcaption id="caption-attachment-376568" class="wp-caption-text">
 Coinbase stock price performance. (Source: Tradingview)
 </figcaption>
</figure> 
<h2 id="why-coinbase-stock-is-rising">Why Coinbase stock is rising</h2> 
Over the past year, Coinbase has emerged as one of the biggest industry players following the collapse of several crypto firms. 
The exchange’s strong reputation has played a huge role in its business as it has recently touted its strong compliance-first approach following the issues of rivals like Binance. 
Coinbase CEO Brian Armstrong <a href="https://cryptoslate.com/coinbase-champions-regulatory-compliance-amid-binance-woes-calls-for-clearer-u-s-regulations/">stated</a> this approach has been proven right, highlighting how the firm embraced “compliance to become a generational company” that can stand the test of time. 
Besides that, the company also plays an active role in several spot Bitcoin exchange-traded fund (ETF) applications with the U.S. Securities and Exchange Commission (SEC). 
Several applicants, including &nbsp;<a href="https://cryptoslate.com/companies/fidelity-investments/">Fidelity</a>, Invesco,&nbsp;<a href="https://cryptoslate.com/companies/wisdomtree/">WisdomTree</a>,&nbsp;<a href="https://cryptoslate.com/companies/vaneck/">VanEck</a>, and&nbsp;<a href="https://cryptoslate.com/companies/ark-invest/">Ark 21 Shares</a>, have <a href="https://cryptoslate.com/ark-invest-updates-its-spot-bitcoin-etf-proposal-with-more-details-on-coinbase/">surveillance-sharing agreements (SSAs)</a> with the exchange. Additionally, the firm would be helping asset managers like Franklin Templeton <a href="https://cryptoslate.com/franklin-templeton-applies-for-spot-bitcoin-etf-tapping-coinbase-as-custody-institution/">custody</a> of their fund’s BTC. 
Meanwhile, the exchange has grown substantially, securing Bermuda’s <a href="https://cryptoslate.com/coinbase-approved-to-offer-perpetual-futures-trading-to-non-u-s-residents-by-bermuda-monetary-authority/">licensing</a> to launch an <a href="https://cryptoslate.com/coinbase-launch-international-exchange-for-institutional-traders-outside-us/">international exchange</a> and offering perpetual futures trading to non-U.S. retail customers. 
Additionally, it has secured licenses in several European countries, including the Netherlands, Spain, Ireland, <a href="https://cryptoslate.com/coinbase-continues-aggressive-international-expansion-plans-with-major-payment-licenses-in-singapore/">Singapore</a>, and Italy, as part of its expansion outside the U.S. 
It has also launched several <a href="https://cryptoslate.com/coinbase-q3-revenue-falls-5-to-674-million-but-still-beats-expectations/">products</a>, including creating an <a href="https://cryptoslate.com/coinbase-launches-institutional-lending-service/">institutional lending service</a>, adding&nbsp;new assets, and unifying its USD and <a href="https://cryptoslate.com/coins/usd-coin/">USDC</a> order books. 
The post <a href="https://cryptoslate.com/coinbase-stock-surges-to-highest-since-april-2022/">Coinbase stock surges to highest since April 2022</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Coinbase stock surges to highest since April 2022

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