Coinbase has officially surpassed the $100 billion market cap mark for the first time in its history, making it a historic achievement on the part of the crypto exchange giant. The stock ended Monday up 1.8% at 394.01, and it hit a high of 398.50 in the session.
This follows the new all-time high that was recorded by Bitcoin over the weekend, which has boosted the confidence of investors in the crypto industry. This surge had already been predicted by Bitwise CIO Matt Hougan, who even proposed that Coinbase might become a trillion-dollar company in the future.
The shares of Coinbase have increased by 50% in the last month following the successful IPO of Circle and favorable regulatory changes in the United States. The fact that the company was recently added to the S&P 500 also made it a financial powerhouse.
In Q1 Coinbase generated $772 million in non-transaction revenue, indicating robust non-trading-fee growth. Stablecoins have become an essential part of its revenue model, and the lawmakers are getting closer to approving a stablecoin regulation bill. This law would offer the necessary clarity and pave the way to greater adoption.
Coinbase also brought in a new influencer, AlexOnchain, to boost its social media presence. Last month, the exchange’s stock jumped 5.5% to hit a new high of $375.07, driven by growing crypto support from both Wall Street and Washington.
President Trump has vowed to make the U.S. the “crypto capital” of the world, pushing pro-crypto regulations as part of what’s now being called “Crypto Week.” With strong momentum, Coinbase is well-positioned for even greater heights.
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