{"id":33587,"date":"2023-12-02T05:52:37","date_gmt":"2023-12-02T09:52:37","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=33587"},"modified":"2023-12-02T05:52:37","modified_gmt":"2023-12-02T09:52:37","slug":"coinbase-coin-up-by-250-heres-why-its-outperforming-btc-and-eth","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/02\/coinbase-coin-up-by-250-heres-why-its-outperforming-btc-and-eth\/","title":{"rendered":"Coinbase (COIN) Up By 250% \u2013 Here\u2019s Why It\u2019s Outperforming BTC And ETH"},"content":{"rendered":"

The shares of Coinbase Global (COIN) have been on a tear in recent weeks, emphasizing its positive performance in 2023. While the recent resurgence experienced by the exchange\u2019s shares<\/a> coincides with the climate shift in the general cryptocurrency market, the latest price data reveals that COIN might actually be doing better than the market leaders, Bitcoin and Ethereum, since the turn of the year.<\/p>\n

Here\u2019s Why Coinbase (COIN) Is Up By 250% In 2023<\/strong><\/h2>\n

A recent report<\/a> by crypto intelligence platform IntoTheBlock has revealed that COIN is amongst the crypto-related stocks enjoying the overall positive trend in the cryptocurrency space. This positive momentum recently pushed the price of the Nasdaq-listed Coinbase stock to an 18-month high of around $115<\/a>.<\/p>\n

$COIN<\/a> is up by approximately 250% this year, outpacing Bitcoin and Ether’s growth of 130% and 75%, respectively. One key factor driving Coinbase’s valuation is its trading volumes, with Q4 volumes already surpassing their figures for the last quarter with one month to go pic.twitter.com\/71yl38jyeK<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) December 1, 2023<\/a><\/p>\n\n

According to data from IntoTheBlock, the COIN shares have surged in value by more than 60% in the past three months. A look at the broader price chart shows that the stock has increased by approximately 250% year-to-date (YTD), outperforming Bitcoin\u2019s and Ether\u2019s YTD upswing of 130% and 75%, respectively.<\/p>\n

In their report, the crypto analytics firm highlighted that one of the crucial factors behind Coinbase\u2019s increasing valuation is likely to be its trading volumes. Notably, the company\u2019s trading volumes in the fourth quarter have already surpassed the figures recorded in the third quarter, even though there is still December to go in the current quarter.<\/p>\n

Additionally, IntoTheBlock cited the recovering market cap of the USDC stablecoin as one of the potential factors driving Coinbase\u2019s valuation. The continued adoption of Coinbase-incubated Ethereum layer 2 network Base was also mentioned as another possible reason behind the resurgent COIN price.<\/p>\n

Meanwhile, Binance\u2019s troubles in the United States have also somewhat benefited its biggest competitor, Coinbase. Last week, the world\u2019s largest exchange admitted to being guilty of violating anti-money laundering policies in the US, leading to the payment of $4.3 billion in fines and the resignation of founder Changpeng (CZ) Zhao<\/a>.<\/p>\n

As of the close of trading on Friday, December 1, the price of COIN stood at $133.76, marking a 7.25% increase in a single day.<\/p>\n

Bitcoin And Ethereum Price<\/strong><\/h2>\n

According to CoinGecko data<\/a>, the prices of Bitcoin and Ethereum currently stand at $38,744 and $2,090, respectively. Ether has not witnessed any significant changes in price over the past week, while Bitcoin swelled by more than 2.5% in the last seven days.<\/p>\n

With market caps of $757 billion and $250 billion, Bitcoin and Ethereum continue to maintain their positions as the largest cryptocurrencies in the market.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The shares of Coinbase Global (COIN) have been on a tear in recent weeks, emphasizing its positive performance in 2023. While the recent resurgence experienced by the exchange\u2019s shares<\/a> coincides with the climate shift in the general cryptocurrency market, the latest price data reveals that COIN might actually be doing better than the market leaders, Bitcoin and Ethereum, since the turn of the year.<\/p>\n

Here\u2019s Why Coinbase (COIN) Is Up By 250% In 2023<\/strong><\/h2>\n

A recent report<\/a> by crypto intelligence platform IntoTheBlock has revealed that COIN is amongst the crypto-related stocks enjoying the overall positive trend in the cryptocurrency space. This positive momentum recently pushed the price of the Nasdaq-listed Coinbase stock to an 18-month high of around $115<\/a>.<\/p>\n

$COIN<\/a> is up by approximately 250% this year, outpacing Bitcoin and Ether’s growth of 130% and 75%, respectively. One key factor driving Coinbase’s valuation is its trading volumes, with Q4 volumes already surpassing their figures for the last quarter with one month to go pic.twitter.com\/71yl38jyeK<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) December 1, 2023<\/a><\/p>\n

According to data from IntoTheBlock, the COIN shares have surged in value by more than 60% in the past three months. A look at the broader price chart shows that the stock has increased by approximately 250% year-to-date (YTD), outperforming Bitcoin\u2019s and Ether\u2019s YTD upswing of 130% and 75%, respectively.<\/p>\n

In their report, the crypto analytics firm highlighted that one of the crucial factors behind Coinbase\u2019s increasing valuation is likely to be its trading volumes. Notably, the company\u2019s trading volumes in the fourth quarter have already surpassed the figures recorded in the third quarter, even though there is still December to go in the current quarter.<\/p>\n

Additionally, IntoTheBlock cited the recovering market cap of the USDC stablecoin as one of the potential factors driving Coinbase\u2019s valuation. The continued adoption of Coinbase-incubated Ethereum layer 2 network Base was also mentioned as another possible reason behind the resurgent COIN price.<\/p>\n

Meanwhile, Binance\u2019s troubles in the United States have also somewhat benefited its biggest competitor, Coinbase. Last week, the world\u2019s largest exchange admitted to being guilty of violating anti-money laundering policies in the US, leading to the payment of $4.3 billion in fines and the resignation of founder Changpeng (CZ) Zhao<\/a>.<\/p>\n

As of the close of trading on Friday, December 1, the price of COIN stood at $133.76, marking a 7.25% increase in a single day.<\/p>\n

Bitcoin And Ethereum Price<\/strong><\/h2>\n

According to CoinGecko data<\/a>, the prices of Bitcoin and Ethereum currently stand at $38,744 and $2,090, respectively. Ether has not witnessed any significant changes in price over the past week, while Bitcoin swelled by more than 2.5% in the last seven days.<\/p>\n

With market caps of $757 billion and $250 billion, Bitcoin and Ethereum continue to maintain their positions as the largest cryptocurrencies in the market.<\/p>\n

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