COIN - Why Coinbase Stock Is Moving Monday | Benzinga
Coinbase Global, Inc. (NASDAQ:COIN) shares are trading higher Monday as shares of several crypto-related stocks move higher amid a rise in the price of Bitcoin.
The Details:
Coinbase shares are up 48% in the past month as the recent rally in Bitcoin continues. Bitcoin has climbed following the approval of several spot Bitcoin ETFs in January as institutions make large purchases and acceptance of the cryptocurrency grows. Investors may also be looking forward to the next Bitcoin halving event, likely to occur in mid to late-April.
Coinbase reported massive outflows of Bitcoin last week, leaving the exchange with 390,000 Bitcoins, or about $20 billion. The outflows are most likely ...