This Friday, shares of U.S. cryptocurrency exchange Coinbase hit a new record high for the first time since the company's initial public offering (IPO) that took place in early 2021.
Its shares reached a new intraday high of $433 earlier today, with the company's market cap swelling to nearly $110 billion.
Coinbase's previous record high of $429, which was reached during the peak of the IPO frenzy in April 2021, had remained untouched for more than four years.
The company has experienced a roller-coaster ride over the past several years. During the FTX-induced market crash in late 2022, the COIN stock collapsed to its current low of just $31.
The Coinbase stock has been on a tear in 2025 due to major regulatory breakthroughs and its long-awaited S&P 500 inclusion.
As reported by U.Today, Bernstein recently raised its COIN price target to $510, predicting a strong rally due to strong legislative momentum in the U.S. and other positive catalysts. Other firms, such as Oppenheimer, are also bullish on the high-flying stock.
Crypto researcher Aylo has commented that Coinbase CEO Brian Armstrong is a "generational founder" in response to the latest milestone. "I've witnessed so much FUD against Coinbase over the years on CT (some deserved), but what they have pulled off is remarkable. How many other crypto companies from 2012 are even still around? Brian Armstrong is a generational founder," he said on X.
Vladislav Sopov
U.Today Editorial Team