Coinbase Stock Nears All-Time High After 42% Year-to-Date Surge

Coinbase Stock Approaches All-Time High Following 42% Year-to-Date Gain

Shares of Coinbase Global (COIN) are surging, propelled by Bitcoin’s bull run, supportive U.S. regulations, and rising revenue. On Wednesday, COIN hit a new 52-week high, edging closer to its record close of $357.39, set in November 2021.

COIN Extends Rally Amid Market Momentum

Coinbase stock jumped as much as 7.1% on Wednesday, reaching an intraday peak of $369.25, according to Yahoo Finance. The stock later hovered around $352, marking a 2% daily gain.

Since bottoming out in April—when markets tumbled following Donald Trump’s “Liberation Day” tariff proposal—COIN has soared 133%. At its current price, Coinbase boasts a market cap of $89.6 billion, securing its place among the top crypto-native public companies.

Year-to-date, the stock is up 42%, driven by:

Bitcoin (BTC) prices surging above $107,000
Pro-crypto regulatory clarity in the U.S.
Steady top-line growth, especially in subscription and service revenue

In Q1, Coinbase reported $2.03 billion in revenue, up 24.2% year-over-year, despite falling slightly short of expectations. Subscription and services income—largely from stablecoin earnings—grew 36.3% to $698.1 million.

Coinbase Shares Track Circle’s Explosive IPO

COIN’s rally also mirrors investor excitement around Circle Internet Group, the issuer of the USDC stablecoin. Circle’s IPO launched at $31 per share and recently surged above $200, generating renewed optimism around crypto infrastructure stocks.

Coinbase and Circle share a long-standing partnership built around USDC. Their relationship deepened in 2023 when Coinbase acquired an equity stake in Circle, boosting its exposure to the stablecoin economy.

Recently, Circle (CRCL) even became the top holding in VanEck’s MVIS Global Digital Assets Equity Index (MVDAPP), which tracks leading crypto-related public equities.