The crypto market registered a marginal decline over the past 24 hours, as Bitcoin (BTC) and other cryptocurrencies traded in the red. Prices have been consolidating in the past few days, with BTC consolidating around the $107,000-$107,500 mark. The flagship cryptocurrency has been marginally down over the past 24 hours, trading around $107,402. 

Meanwhile, Ethereum (ETH) fell from a high of $2,532 on Thursday to close at $2,415. The world’s second-largest cryptocurrency is down over 1% in the past 24 hours, struggling to stay above $2,400. 

Ripple (XRP) is down over 4%, trading around $2.09, while Solana (SOL) is down nearly 3%, trading around $140. Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), Stellar (XLM), Toncoin (TON), Litecoin (LTC), Hedera (HBAR), and Polkadot (DOT) have also registered notable declines. 

Coinbase Stock Hits New Closing High 

According to data from Google Finance, Coinbase (COIN) shares ended Thursday at a new all-time closing high of $369.21. Real Vision CEO Raoul Paul reacted to the stock’s new high, stating, 

“Wow, $HOOD, $COIN, and $RKLB are going vertical now. All in the RV Pro portfolio (added to all via calls at April lows). $TSLA is likely to follow. The next step is crypto. The liquidity spigot is wide, wide open.”

The recent gains are 3.3% higher from the stock’s previous closing high of $357.59 in November 2021. Coinbase was the best-performing S&P 500 stock on Tuesday, rising over 12%. The stock’s stellar performance comes only a month after it became the first crypto firm to join the S&P 500. 

However, analysts are split on whether the rally could continue. Investment advisor Andy Heilman stated that while COIN has made stellar gains, it is due a correction. Another prominent analyst stated that the daily Bollinger

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Author: Amara Khatri