Étienne Girard
As Bitcoin soared to fresh all-time highs over the weekend, U.S.-based crypto exchange Coinbase followed with major achievements of its own on Monday’s trading session.
According to PRIME’s COIN data, Coinbase shares ended the day up 1.8%, closing at $394.01 — a new record closing high since its public debut in April 2021. The stock also touched an intraday peak of $398.50.
With this surge, Coinbase’s market capitalization has officially surpassed $100 billion for the first time, reaching approximately $100.36 billion, based on Yahoo Finance metrics.
Regulatory Wins and IPO Momentum Fuel COIN Rally
The recent rally in Coinbase’s stock price, which has gained 50% over the past month, is attributed to several factors, including the strong debut of Circle Internet Group (CRCL) and a more favorable regulatory climate for crypto in the U.S.
Another significant development came on May 19, when COIN was added to the S&P 500 index, making it the first crypto-native company included in the benchmark index. This milestone has drawn attention from institutional investors and analysts alike.
Bernstein recently raised its price target on Coinbase to $510, dubbing the company the “Amazon of crypto financial services” — a comparison that highlights its perceived dominance and future growth potential.
Could Coinbase Become a Trillion-Dollar Company?
Bitwise CIO Matt Hougan is among those bullish on Coinbase’s long-term trajectory. In a May 13 post on X, he wrote:
“Pick a company currently valued below $100 billion that has the highest chance of being a $1+ trillion company some day. I’ll start: Coinbase at $61 billion.”
Coinbase’s non-transaction revenue has also been on the rise, reaching $772 million in Q1, according to PRIME’s dashboard — signaling the firm’s diversification away from pure trading fees.
In a move to strengthen its brand online, Coinbase recently hired AlexOnchain, a well-known pseudonymous crypto personality, to boost its social media presence and community engagement.
Bitcoin Hits New Highs, Lifting the Market
The broader crypto market continues to rally, with Bitcoin breaking past $122,000 for the first time on Monday, before settling around $119,700, per PRIME’s BTC price data. This bullish momentum is adding fuel to Coinbase’s rise, reinforcing its position as a leader in the crypto ecosystem.
