Coinbase Shares Soar as Crypto-Related Stocks Continue Post-Fed Rally

CoinDesk2023-02-03

Barclays analyst said Coinbase volumes rose 56% in January from the previous month.Shares of crypto exchange Coinbase (COIN) jumped almost 24% on Thursday after the Federal Reserve’s latest interest ...

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runningjames
2023-02-03
runningjames
Donto be greedy, cash out profits as we don't know when it's crush again
Universe宇宙
2023-02-03
Universe宇宙
[Smart] Crypto and MEME stocks are highly speculative and has substantial risk of losing everything!

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Because Coinbase makes most of its revenue from trading volume, its stock price is highly correlated with bitcoin (BTC), which has been rallying so far this year.Correlation between Coinbase (COIN) and bitcoin (BTC). (TradingView)U.K. bank Barclays said in a note on Thursday that Coinbase volumes rose 56% in January from the previous month, and that “volumes are now near levels seen in October before the collapse of FTX, but remain below the average for 2022.”Most crypto-linked stocks are also rallying, along with the broader equity markets. 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