Coinbase stock jumps 60% in 2024, recovers listing price
COIN stock has rebounded to surpass the $250 mark for the first time in two years. Over the past 12 months, Coinbase shares have climbed more than 300%.
Coinbase (COIN) stock has shown notable growth in recent weeks, returning to its listing price and trading above $252 at the time of writing, representing a 60% surge since the beginning of the year.
The stock has rebounded to surpass the $250 mark for the first time in two years on March 8, following a significant downturn during the crypto winter that saw its shares plummet to as low as $33 in 2023. Over the past year, Coinbase shares have risen over 300%.
Boosting the movement is Bitcoin’s (BTC) price performance, also hitting a record high on March 8, briefly touching $70,000 before bouncing back to around $68,000. Increasing flows from Bitcoin exchange-traded funds (ETFs) and anticipation surrounding BTC's upcoming halving are driving the cryptocurrency rally.
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