Coinbase Shares Rally: A Full-Circle Crypto Comeback
Coinbase (COIN) shares surged on Thursday to their highest level since their high-profile Nasdaq debut in April 2021, nearly retracing their entire 90% plus collapse during the depths of the 2022 crypto winter. The stock topped out at $382 intraday before settling into a 5.5% gain by market close, effectively completing a remarkable full-circle rebound.
This rally brings COIN’s value to a point that many had assumed belonged to a bygone era. Initially peaking alongside crypto’s bull market in April 2021, the stock lost substantial value amid the broader market meltdown. But now, market sentiment has shifted. Investors are increasingly framing Coinbase not as a relic of speculative excess, but as a resilient platform poised to lead crypto’s next upward phase. Key growth drivers include mounting stablecoin usage, deeper institutional adoption, and crucially, clearer U.S. regulatory frameworks .
New Products & Strategic Partnerships
Central to the renewed optimism: the launch of Coinbase Payments, built on their Base layer‑2 Ethereum network. This allows merchants to accept USDC stablecoin payments 24/7—no crypto know-how required—and integrates with platforms like Shopify . That move slots Coinbase into mainstream commerce, converting crypto infrastructure into practical utility.
Coinbase is also cashing in on its revenue-sharing agreement with Circle, the issuer of USDC. Through this pact, Coinbase earns a cut of the yield generated by Circle’s reserve assets, adding a recurring revenue stream beyond trading fees.
Bullish Market Context & Analyst Outlook
It’s not just Coinbase—with the S&P 500 and Nasdaq hitting fresh highs, the crypto sector is humming again. Companies like Robinhood have also seen investor interest rebound . On top of that, crypto-friendly legislation is gaining traction: the Senate-approved GENIUS Act, the emerging CLARITY stablecoin framework, and clarity around Digital Asset Market Structure are all fueling confidence.
Analysts are optimistic. Benchmark raised its price target to $421, citing Coinbase’s positioning to benefit from U.S. stablecoin and market structure laws . Bernstein went further, eyeing $510, branding Coinbase an emerging “universal bank” in the crypto landscape—bridging everyday users, institutions, and on-chain infrastructure at global scale .
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