Coinbase stock hit a new annual high this year, surpassing the figure last observed in May 2022.
Coinbase is up 50% today at $116.4 after starting the month at $77, according to TradingView. It is currently trading at its highest price since mid-2022.
COIN price has reached a new high this year. Image: TradingView
The stock price is still well below where it was in 2021, when it was between $220 and $350. It took a hit in early 2022 and has not fully recovered since.
With the industry poised to accept spot Bitcoin ETFs and the SEC working closely with potential issuers, shares on the exchange have rebounded.
The SEC recently met with: grayscale investmentAbout plans to convert flagship Bitcoin trust into spot Bitcoin ETF BlackRock and Nasdaq employees. Prospective stocks issuing spot Bitcoin ETFs such as Grayscale and Ark Invest updated A look at the latest prospectus shows further progress.
Binance fined $4.3 billion
The latest record follows the imposition of a $4.3 billion fine on one of its biggest rivals, Binance, and the dismissal of CEO Changpeng Zhao. Industry analysts have mixed opinions on whether Binance will be able to maintain its market share after this setback.
Cryptocurrency prices have recently reached new highs, with Bitcoin rising 4% today to surpass $38,000. Ethereum trades at $2,120 today, reflecting a similar 4% gain.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Tim is the editor-in-chief of The Block. Before joining The Block, Tim worked as a news editor at Decrypt. He holds a BA in Philosophy from York University and studied News Journalism at Press Association Training. X Follow him at @Timccopeland.