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BNB
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Bitcoin
Bitcoin (BTC)
$100,371.00 2.18887
Bitcoin price
Ethereum
Ethereum (ETH)
$3,913.07 5.37362
Ethereum price
BNB
BNB (BNB)
$712.65 3.4023
BNB price
Solana
Solana (SOL)
$228.95 1.89423
Solana price
XRP
XRP (XRP)
$2.39 1.09013
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000285 3.35975
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000243 3.31541
Pepe price
Bonk
Bonk (BONK)
$0.0000386 2.55813
Bonk price
dogwifhat
dogwifhat (WIF)
$3.05 3.0741
dogwifhat price
Popcat
Popcat (POPCAT)
$1.23 -0.38104
Popcat price
Bitcoin
Bitcoin (BTC)
$100,371.00 2.18887
Bitcoin price
Ethereum
Ethereum (ETH)
$3,913.07 5.37362
Ethereum price
BNB
BNB (BNB)
$712.65 3.4023
BNB price
Solana
Solana (SOL)
$228.95 1.89423
Solana price
XRP
XRP (XRP)
$2.39 1.09013
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000285 3.35975
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000243 3.31541
Pepe price
Bonk
Bonk (BONK)
$0.0000386 2.55813
Bonk price
dogwifhat
dogwifhat (WIF)
$3.05 3.0741
dogwifhat price
Popcat
Popcat (POPCAT)
$1.23 -0.38104
Popcat price
Bitcoin
Bitcoin (BTC)
$100,371.00 2.18887
Bitcoin price
Ethereum
Ethereum (ETH)
$3,913.07 5.37362
Ethereum price
BNB
BNB (BNB)
$712.65 3.4023
BNB price
Solana
Solana (SOL)
$228.95 1.89423
Solana price
XRP
XRP (XRP)
$2.39 1.09013
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000285 3.35975
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000243 3.31541
Pepe price
Bonk
Bonk (BONK)
$0.0000386 2.55813
Bonk price
dogwifhat
dogwifhat (WIF)
$3.05 3.0741
dogwifhat price
Popcat
Popcat (POPCAT)
$1.23 -0.38104
Popcat price

Coinbase stock surpasses initial listing price amid Bitcoin rally

coinbase-stock-price-bitcoin-rally
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Coinbase stock surpasses initial listing price amid Bitcoin rally

The stock price of Coinbase has surpassed its initial direct listing price for the first time in over two years, as Bitcoin reached a new all-time high. 

When the most prominent U.S. crypto exchange entered the public market through a direct listing in 2021, the starting price was $250 per share. Initially, the stock experienced a surge, reaching a peak of $350 per share in November 2021. However, it concluded its first year on the market with a 38% loss.

The following years saw Coinbase’s shares struggle as the cryptocurrency market cooled down and regulatory scrutiny from the SEC intensified. However, the past year has witnessed a dramatic turnaround for Coinbase, thanks partly to Bitcoin’s price surge and the SEC’s approval of spot Bitcoin ETFs. As a result, Coinbase’s stock value has soared by over 300% in the past 12 months.

Coinbase stock surpasses initial listing price amid Bitcoin rally - 1
Coinbase Global stock price | Source: MarketWatch

The company’s stock surged over 5% today after the latest bull run saw BTC reach a new peak of $70,000, but Coinbase is not the only company benefiting from the current bull market. Microstrategy Inc., the largest Bitcoin holder, also increased its shares by 113% in the past month. NVIDIA’s stock also rallied over 20% this month due to its close association with Bitcoin mining. 

Despite Coinbase’s latest achievement, early investors who have held onto their shares since the beginning may not feel completely vindicated. By the end of 2022, the company’s stock had plummeted by 86%.

Nevertheless, Coinbase’s stock has been on an upward trajectory alongside the crypto market. The rise comes despite recent technical issues on Coinbase’s platform, where some users reported seeing zero balances.