Coinbase (COIN) Up By 250% – Here’s Why It’s Outperforming BTC And ETH
2023年12月2日 - 2:44PM
NEWSBTC
The shares of Coinbase Global (COIN) have been on a tear in recent
weeks, emphasizing its positive performance in 2023. While the
recent resurgence experienced by the exchange’s shares coincides
with the climate shift in the general cryptocurrency market, the
latest price data reveals that COIN might actually be doing better
than the market leaders, Bitcoin and Ethereum, since the turn of
the year. Here’s Why Coinbase (COIN) Is Up By 250% In 2023 A recent
report by crypto intelligence platform IntoTheBlock has revealed
that COIN is amongst the crypto-related stocks enjoying the overall
positive trend in the cryptocurrency space. This positive momentum
recently pushed the price of the Nasdaq-listed Coinbase stock to an
18-month high of around $115. According to data from IntoTheBlock,
the COIN shares have surged in value by more than 60% in the past
three months. A look at the broader price chart shows that the
stock has increased by approximately 250% year-to-date (YTD),
outperforming Bitcoin’s and Ether’s YTD upswing of 130% and 75%,
respectively. Related Reading: Ethereum Price Prediction: Crypto
Analysts Reveal Catalyst That Will Drive Price Above $3,500 In
their report, the crypto analytics firm highlighted that one of the
crucial factors behind Coinbase’s increasing valuation is likely to
be its trading volumes. Notably, the company’s trading volumes in
the fourth quarter have already surpassed the figures recorded in
the third quarter, even though there is still December to go in the
current quarter. Additionally, IntoTheBlock cited the recovering
market cap of the USDC stablecoin as one of the potential factors
driving Coinbase’s valuation. The continued adoption of
Coinbase-incubated Ethereum layer 2 network Base was also mentioned
as another possible reason behind the resurgent COIN price.
Meanwhile, Binance’s troubles in the United States have also
somewhat benefited its biggest competitor, Coinbase. Last week, the
world’s largest exchange admitted to being guilty of violating
anti-money laundering policies in the US, leading to the payment of
$4.3 billion in fines and the resignation of founder Changpeng (CZ)
Zhao. As of the close of trading on Friday, December 1, the price
of COIN stood at $133.76, marking a 7.25% increase in a single day.
Bitcoin And Ethereum Price According to CoinGecko data, the prices
of Bitcoin and Ethereum currently stand at $38,744 and $2,090,
respectively. Ether has not witnessed any significant changes in
price over the past week, while Bitcoin swelled by more than 2.5%
in the last seven days. Related Reading: Bitcoin’s Bullish Surge
Ahead: Deribit Predicts Major Price Leap In Early 2024 With market
caps of $757 billion and $250 billion, Bitcoin and Ethereum
continue to maintain their positions as the largest
cryptocurrencies in the market. Coinbase (COIN) price continues to
rally higher on daily timeframe | Source: COIN chart on TradingView
Featured image from Shutterstock, chart from TradingView
Bitcoin (COIN:BTCUSD)
過去 株価チャート
から 6 2024 まで 7 2024
Bitcoin (COIN:BTCUSD)
過去 株価チャート
から 7 2023 まで 7 2024