Coinbase Shares Rise By 130% in Three Months
Since the beginning of January, Coinbase shares have seen a 130% rise. This is a direct result of Bitcoin’s February and March surge, which was caused by a redistribution of capital in the global market as a result of the US banking crisis.
Coinbase’s improved investment attractiveness is a noteworthy event, especially since the crypto company reported a net loss of $2.6 billion in 2022 and a four-fold decrease in revenues to $605 million in the last quarter of that year compared to $2.49 billion the year before.
On March 21, trading in the US ended with the growth of COIN shares to $83.99, which is the same level it was at in mid-August 2020 when it first entered the fund market.
However, the shares of the company have recently fallen to $77.14 after it was known the SEC has sent a Wells notice to the exchange.
