Coinbase, one of the largest cryptocurrency exchanges globally, went public in June 2021 at a reference price of $250. On its first day of trading, Coinbase stock opened at $381 and touched a high of $429. Shares of the crypto giant are currently trading 78% below all-time highs, valuing the company at $18.7 billion by market cap.
Similar to several other tech stocks, Coinbase has derived outsized gains in 2023. It has returned 126% year-to-date and 24% in the past month. Let’s see how high can Coinbase stock rise and what are the key drivers of the company.
