There’s been no better time this year to take profits on Coinbase shares.

As of this writing, COIN shares—which trade on the Nasdaq—are sitting at $128.46. That’s the highest Coinbase has seen its shares trading all year, beating the previous high of $110.15 the company set in July after a ruling in favor of Ripple spurred optimism that Coinbase would be successful in its own SEC lawsuit.

The current highs also bring the San Francisco-based crypto exchange’s shares level with prices it last saw in May 2022. But the stock is still far short of its all-time high of $342.98. Unsurprisingly, that peak was seen during the November 2021 bull run when the global crypto market cap reached $3 trillion.

The stock’s performance has tended to follow broader volatility within the cryptocurrency market and associated businesses. When Coinbase first went public, market analysts largely agreed that the company’s stock would function as a proxy bet on crypto. When crypto prices were up, COIN would benefit. When prices were down, COIN would likewise suffer.

In broad strokes, over the last year and a half, those predictions have generally held true. But more

Go to Source to See Full Article
Author: Stacy Elliott

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details