Coinbase stock surges to highest since April 2022

Nov. 24, 2023

By Oluwapelumi Adejumo

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 data.

Observers have linked COIN’s price performance to the generally positive trend observed in the crypto space, where flagship digital assets like Bitcoin, Ethereum, and Solana have recorded more than 100% gains during the past year.

Coinbase stock price performance. (Source: Tradingview)

Why Coinbase stock is rising

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 stated this approach has been proven right, highlighting how the firm embraced “compliance to become a generational company” that can stand the test of time.

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