Catenaa, Wednesday, July 02, 2025- Shares of Coinbase Global Inc. closed Thursday at $375.07, surpassing the prior record of $357.39 set in November 2021, as rallying stablecoin enthusiasm and regulatory progress fuelled investor confidence.
The crypto exchange operator’s stock has climbed more than 1,000 percent from its late-2022 low, which followed the collapse of FTX and a broader market pullback.
The surge coincides with rebounding digital-asset prices and strong backing from Washington, including support from President Donald Trump.
Last month, Coinbase joined the S and P 500 Index, marking its growing role in mainstream finance.
The final leg of the rally accelerated after the US Senate approved legislation to regulate dollar-pegged stablecoins, a payment method seen as key to future revenue streams.
Benchmark analyst Mark Palmer said growing income from stablecoin services should help reduce dependence on trading fees, which face pressure from rising competition.
Since the Senate bill passed, Coinbase shares have risen more than 45 percent.
The exchange benefits from a revenue-sharing deal with Circle Internet Group Inc., whose own stock has rallied following its public debut. Traditional payments firms Mastercard Inc. and Visa Inc. have seen their shares lag, despite launching stablecoin initiatives of their own.
Analysts warn of continued volatility, noting that average price targets remain below current levels. Bernstein analyst Gautam Chhugani lifted his target to $510, above the stock’s intraday record of $429.54, while the Street average sits around $287.
