Market Cap: $2,242,152,606,480
24h Vol: $68,606,869,562
Cryptocurrencies: 29457
Markets: 111694
Cryptocurrencies: 29457
Markets: 111694
Market Cap: $2,242,152,606,480     
24h Vol: $68,606,869,562
Seeking Alpha 2023-02-28 22:32:08

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

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 .
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