Coinbase Stock Rockets to Record High with Stunning 40% Monthly Rally

Wall Street scrambles as crypto's favorite blue-chip defies gravity—again.

Coinbase shares just ripped past all previous resistance levels, marking a watershed moment for institutional crypto adoption. The 40% monthly surge leaves traditional finance veterans clutching their Bloomberg terminals—and their pearls.

While shorts get vaporized, the rally raises uncomfortable questions: Is this sustainable growth or another case of crypto markets moving faster than SEC subpoenas?

One major factor behind the recent rally is the explosive debut of Circle (CRCL), the firm behind USDC, the second-largest stablecoin. Since launching on June 5 at $83.23per share, Circle stock has skyrocketed over 156%, closing at $213.63 on Thursday. 

According to filings, Coinbase earned more than 60% of Circle’s USDC income last year as part of a revenue-sharing deal. Coinbase also receives 50% of the interest income from USDC reserves.

Circle’s USDC currently holds $61.45 billion in market share, trailing only Tether (USDT). This deep partnership with Circle is paying off in a big way for Coinbase.

Adding more fuel, Coinbase recently became the first pure crypto company to join the S&P 500 index, which went live on May 19. Analysts are bullish, with Bernstein raising its target to $510 and calling Coinbase the “Amazon of crypto financial services.”

With strong momentum and growing investor confidence, Coinbase continues to shine as crypto adoption rises.

Also Read: Bernstein: Coinbase is ‘Most Misunderstood’ Stock, Can Rally 50%