Why Coinbase Stock Jumped 43% Last Year
Shares of cryptocurrency company Coinbase Global (NASDAQ: COIN) jumped 42.8% in 2024, according to data provided by S&P Global Market Intelligence. The cryptocurrency space came roaring back to life throughout the year. And given that Coinbase is a leading cryptocurrency infrastructure company, it's not surprising to see it enjoy big gains.
The obvious catalyst for Coinbase were the big gains from Bitcoin (CRYPTO: BTC), the largest cryptocurrency in the world. Bitcoin's price increased by 119% last year. And whenever this happens, it fuels massive interest for the space generally, which is a tailwind for Coinbase.
The less obvious tailwind for Coinbase was the adoption trend for USD Coin (CRYPTO: USDC). It's a stablecoin, and its price consequently shouldn't change. By contrast, its market capitalization does go up, and it highlights adoption trends.
Source Fool.com
Coinbase Global Inc. Aktie
Die Community bevorzugt leicht Coinbase Global Inc. mit mehr Buy- als Sell-Einschätzungen.
Das von der Community festgelegte Kursziel für Coinbase Global Inc. von 318 € impliziert eine deutliche Steigerung gegenüber dem aktuellen Kurs von 201.95 €.
