Coinbase Share Price Rose 121% Year-to-Date Due to Market Rebound and Positive Legal News

Coinbase's stock, $COIN, has seen impressive gains in the past few weeks, with a 55% increase following Wednesday's open, and 121% increase year-to-date.

The recent surge can be attributed to two factors: crypto market rebound and positive legal news. Since the start of the year, crypto market has seen a strong rebound due to better liquidity conditions and deleverage and elimination of bad credit and actors. Additionally, the recent dismissal of a class action lawsuit against Coinbase and its CEO, Brian Armstrong, has also contributed to the surge.

In our Crypto Exchanges 2022 Annual Report dated 16 January, we also viewed the stock as undervalued.

However, despite these gains, the regulatory classification of tokens remains unclear and other class action lawsuits against Coinbase are still pending, so caution should be exercised when considering an investment.

Source: Tradingview

 

Source

Coinbase

Exchanges

Related News
COIN jumps 8% on news Coinbase will become the first pure-play crypto firm to join S&P 500 index COIN jumps 8% on news Coinbase will become the first pure-play crypto firm to join S&P 500 index
Bitget will legally pursue 8 accounts suspected of profiting $20 million from VOXEL trading manipulation Bitget will legally pursue 8 accounts suspected of profiting $20 million from VOXEL trading manipulation
Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group
MEXC Extends DEX+ Platform to Binance Smart Chain Users MEXC Extends DEX+ Platform to Binance Smart Chain Users
MEXC Partners With Hacken to Increase Security Standards MEXC Partners With Hacken to Increase Security Standards
Latest News More More
2 Hours Ago TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
3 Days Ago Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
4 Days Ago North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
4 Days Ago JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
June 30 Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open