Coinbase Global (COIN) stock extended its rally on Wednesday, setting a fresh 52-week high and coming within range of its record closing price from November 2021, as the broader digital asset industry followed Bitcoins lead.Shares of the crypto exchange rallied by as much as 7.1% Wednesday morning, reaching an intraday high of $369.25, according to Yahoo Finance data.
COIN was last seen trading around $352 for a gain of 2%.The stock has also rebounded 133% from its April low, which occurred during a broad market sell-off sparked by US President Donald Trumps Liberation Day tariff announcement.With the rally, COIN has set a fresh 52-week high and is within 2% of its record closing price of $357.39, according to Macrotrends data.COIN stock is approaching all-time highs.
Source: Yahoo FinanceAt current values, Coinbase stock has a total market capitalization of $89.6 billion, making it one of the most valuable crypto-focused companies.Coinbase stock has rallied more than 42% since the start of the year, fueled by rising (BTC) prices, pro-industry regulatory developments in the United States and steady revenue growth.While Coinbases first-quarter revenue came in below expectations, it rose 24.2% year-over-year to $2.03 billion.
Subscription and services revenue grew 36.3% to $698.1 million, driven largely by income from stablecoins.Related: Bitcoin rebounds to $105K as Coinbase premium hits second 2025 highCoinbase shares are rallying alongside stablecoin issuer Circle Internet Groups highly successful initial public offering.After debuting at $31 per share, Circles stock, trading under the ticker CRCL, has surged to over $200.Coinbase and Circle maintain a significant partnership centered on the USDC (USDC) stablecoin, which deepened in 2023 when Coinbase acquired an equity stake in Circle.As Cointelegraph recently reported, Circle briefly became the top holding in VanEcks MVIS Global Digital Assets Equity Index (MVDAPP), which tracks the largest and most liquid publicly traded crypto companies.The largest components of MVDAPP.
Source: MarketVectorHowever, as of Wednesday, Coinbase had reclaimed the top spot in the MVDAPP.Related: Stablecoin summer as Coinbase, Circle stocks surge on new legislation