COIN - Coinbase Stock Is Ripping Higher: What's Going On? | Benzinga
Coinbase Global Inc (NASDAQ:COIN) shares are trading higher Thursday amid a rise in Bitcoin (CRYPTO: BTC) prices.
What To Know: The broader crypto space got a boost from increased demand following the approval of spot bitcoin ETFs in January, but the ETFs reportedly saw their largest single-day outflows on Monday as Bitcoin fell from its highs and sparked a selloff in several crypto-related stocks.
Bitcoin prices are bouncing back Thursday following dovish comments from the Federal Reserve. Bitcoin was up approximately 5% over a 24-hour period trading around $67,104 at the time of writing.
Coinbase is faring better than other crypto-linked stocks this week, likely due to the increased volatility of crypto assets. As a crypto exchange, the company benefits from volatility in crypto ...