Why did Coinbase stock pop up today? Traders might be looking past crypto regulatory fears

Shares of cryptocurrency exchange Coinbase Global ( NASDAQ: COIN ) jumped 10% Tuesday, having climbed as much as 14.3% earlier in the session, despite growing regulatory pressures over the industry. In a rare dynamic, the upswing in COIN was accompanied by lower crypto prices, with bitcoin ( BTC-USD ) slipping 1.2% to $23.19K in late afternoon trading. Overall, the global crypto market cap edged lower by 1.3% to $1.06T, according to CoinMarketCap data . Both Seeking Alpha's Quant system and the average Wall Street analyst justified COIN as a Hold. The average SA author rating also stood at Hold. Last week, (Feb. 22) Seeking Alpha contributor Bill Maurer also viewed COIN with a Hold rating after the company posted mixed fourth-quarter results .