Coinbase stock hits new yearly high at $415 as Bitcoin tops $122K — Is this just the start of a bigger Crypto Week rally?
Can COIN go even higher?
Why is coinbase stock soaring right now?
The surge in Coinbase stock (COIN) is closely tied to the Bitcoin rally, which has gathered intense momentum over recent weeks. Bitcoin (BTCUSD) trading above $122,000 marks a historic phase for the cryptocurrency market. Investors are watching closely as the U.S. House of Representatives prepares to debate crypto-friendly legislation, which could reshape the U.S. into a major regulatory hub for digital assets.
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Meanwhile, U.S.-listed Bitcoin ETFs saw over $2.7 billion in inflows last week alone, their strongest performance since launch in 2024. The crypto market is also benefiting from growing confidence in the Republican-led policy agenda, with many betting on President Donald Trump's return to power as a net positive for crypto.
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What is Coinbase's current financial performance?
Coinbase continues to show strong financial numbers. In Q1 2025, the company reported:
$2.03 billion in total revenue, up 24% year-over-year, though slightly below analyst expectations of $2.11 billion
Transaction revenue rose 17.2% to $1.3 billion, with:
Consumer trading volume up 39% YOY to $78 billion
Institutional trading volume up 23% YOY to $315 billion
Subscriptions and services revenue grew 37% to $698.1 million, driven by stablecoin interest and Coinbase One
Adjusted EPS stood at $1.94, slightly above the consensus estimate of $1.93 but down 23% from a year ago
Adjusted EBITDA hit $929.9 million, though it declined by 8.3% YOY
Coinbase ended the quarter with $8.1 billion in cash
Despite higher costs, these numbers underline the company's resilience and ability to grow in a volatile market.
Live Events
How does the deribit acquisition change coinbase's future?
One major game-changer for Coinbase this year is its $2.9 billion acquisition of Deribit, a leading global crypto options exchange. Deribit brings:
Over
$30 billion in open interest
More than
$1 trillion in non-U.S. trading volume in 2024
This deal positions Coinbase as a dominant force in crypto derivatives, giving it a stronger foothold in the global market. It also helps Coinbase diversify beyond just spot trading, opening doors to new revenue streams and deeper institutional engagement.
What are analysts saying about coin stock now?
Wall Street analysts remain bullish on Coinbase. Among the 30 analysts tracking the stock:
13 rate it a 'Strong Buy'
1 suggests a 'Moderate Buy'
14 recommend 'Hold'
2 advise 'Strong Sell'
The average price target is currently $309.16, which is already below the current stock price of over $415. But several top analysts see more upside:
Oppenheimer's Owen Lau
: $395 target
JMP Securities' Devin Ryan
: $400 target
Benchmark's Mark Palmer
: $421 target
Bernstein
: Street-high target of
$510
, implying another
24% upside
from current levels
Bernstein even calls Coinbase 'the most misunderstood company in crypto', believing market sentiment hasn't fully priced in its long-term value.
Will coinbase earnings continue to rise or fall?
Looking ahead, Q2 2025 could be mixed. Coinbase forecasts subscription and services revenue between $600 million and $680 million. However, analysts expect:
EPS to drop 21% YOY
to
$0.84
for Q2
Full-year EPS
to land at
$4.90
, down 35% from last year
But a
26% rebound
in fiscal 2026, with EPS forecasted at
$6.18
So, while short-term earnings may dip, the long-term outlook remains positive, especially if Bitcoin stays on an upward path.
How much higher can coinbase stock go during crypto week?
The excitement around Crypto Week, with pending U.S. regulatory reforms and rising crypto adoption, has created a near-perfect setup for Coinbase. If Bitcoin momentum continues, and institutional money keeps flowing into crypto ETFs, Coinbase stock could see another breakout.
With a growing suite of services, strong brand recognition, and expanding global footprint via Deribit, Coinbase is well-positioned to ride the crypto wave. Though valuation remains high — trading at 79x forward earnings and 15x sales — bullish sentiment and solid fundamentals might justify the premium.
For now, all eyes are on Bitcoin's next move, and whether this surge has more fuel in the tank.
Coinbase has firmly secured its place at the heart of the crypto economy. While the stock's rapid rise may trigger some caution, the ongoing crypto boom — backed by political tailwinds and increasing institutional demand — suggests that COIN still has room to run. Investors should watch closely how Crypto Week shapes up, because it may set the tone for Coinbase's next big move.
FAQs:
Q1: Why did Coinbase stock hit a new 52-week high?
Coinbase stock rose on strong Bitcoin prices, ETF inflows, and pro-crypto political news.
Q2: What does the Deribit deal mean for Coinbase stock?
It makes Coinbase a leader in global crypto derivatives with expanded institutional reach.
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