Coinbase stock surges toward $100B valuation as crypto-friendly policies under the Trump administration create ideal conditions for exchange growth during “Crypto Week.”
Coinbase (COIN) shares climbed 2% to $394.79 on Monday, approaching record highs as the exchange benefits from favorable regulatory shifts under the Trump administration. The stock has gained 63% year-to-date, putting its market capitalization on track to surpass $100 billion for the first time. This rally coincides with Bitcoin’s surge past $123,000 and Washington’s designation of “Crypto Week,” featuring key legislative discussions.
The exchange’s fortunes turned in February when the SEC dropped its two-year lawsuit alleging securities violations, followed by Coinbase’s historic inclusion in the S&P 500. Analysts cite three pending crypto bills, the SEC’s transfer of crypto oversight to its tech-friendly unit, and relaxed custody rules as major catalysts. Benchmark Equity Research maintains a $421 price target, anticipating approval for tokenized equity offerings.
While Oppenheimer’s Owen Lau estimates a 70% chance of the Clarity Act passing, some warn Coinbase’s current price may already reflect these positives. The firm raised its target to $417 ahead of July 31 earnings, noting CEO Brian Armstrong’s political connections could further advantage the exchange in ongoing regulatory negotiations.
CryptoFeedHub Note: This article is a rewritten summary based on external reporting. Original source: Bitcoinist.