Coinbase Hits 18-Month High as Crypto Market Thrives

Coinbase Hits 18-Month High as Crypto Market Thrives

By: Eliza Bennet

Coinbase, one of the industry's leading cryptocurrency exchanges, have seen its stock - COIN, reach its highest trading point since late April 2022 at $115. This significant 216% year-to-date growth is reportedly tied to the overall positive trend in the crypto space, where prominent digital assets such as Bitcoin, Ethereum and Solana have marked over 100% gains during the past year.

Coinbase's rising success could be attributed to its strong commitment toward compliances, emerging as a key player in the industry following the fall of several crypto firms. This dedication to regulatory compliance has demonstrated its potential for longevity in the business, as described by Coinbase’s CEO, Brian Armstrong.

It's worth noting that Coinbase is actively involved in various spot Bitcoin exchange-traded fund (ETF) applications with the U.S. Securities and Exchange Commission (SEC), working in tandem with several applicants including Fidelity, Invesco, WisdomTree, VanEck, and Ark 21 Shares. Further, the firm has expanded internationally, securing licenses in numerous countries and launching an international exchange for non-U.S. retail customers.

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