Since the beginning of January, Coinbase shares have risen in price by more than 130%, RBC reports. Recall that this American crypto company entered the fund market in the spring of 2021.
On March 21, trading in the US ended with the growth of COIN shares to $ 83.99, the last time the giant’s securities were at this level in mid-August last year.
At the same time, on January 3, 2023, trading in the shares of the cryptocompany on the US stock market started at $36.49.
This impressive quarter-on-quarter growth was a direct result of Bitcoin’s February and March surge, analysts say. The banking crisis in the US triggered a large redistribution of capital in the global market, part of which went into BTC and other virtual currencies.
The improvement in the investment attractiveness of Coinbase was a significant development for the exchange, given that in 2022 its net loss amounted to $2.6 billion.
Due to the “crypto winter”, the company’s revenues fell about four times. In the last quarter of 2022, she earned $605 million, while in the same period the year before, her income reached $2.49 billion.
