Since the beginning of January, shares of Coinbase have risen by more than 130%, according to the agency RBC. Recall, this American cryptocompany entered the phono market in the spring of 2021.
On March 21 trading in the U.S. ended with the growth of shares of COIN to $83.99, the last time at this level the securities of the giant were in the middle of August last year.
Meanwhile, on January 3, 2023, trading in shares of the cryptocompany on the U.S. stock market began at $36.49.
Such impressive growth in quarterly terms was a direct result of the surge in bitcoin in February and March, analysts said. The banking crisis in the U.S. provoked a large redistribution of capital on the world market, some of which went into BTC and other virtual currencies.
Coinbase’s improved investment appeal was an important development for the exchange given that it had a net loss of $2.6 billion in 2022.
The company’s revenues plummeted by about four times because of “cryptozyma.” It earned $605 million in the last quarter of 2022, compared to $2.49 billion in revenue in the same period the year before.