Coinbase Stock Surges 1.19% Amid Bullish Crypto Trends

Coinbase stock (COIN) has formed a bullish pattern on the price chart, hinting at a possible breakout to $2,000. This prediction comes from popular crypto analyst Ali Martinez, who highlighted a rare bullish pattern on the COIN chart that supports this prediction. The pattern, known as a cup and handle, usually forms after a prolonged period of consolidation and signals a potential bullish price movement for COIN. Martinez stated that a complete breakout of this pattern could see the Coinbase stock hitting $2,000 in the long term.

As of the latest update, Coinbase stock was trading at $359, up 1.19% over the past 24 hours. The stock has demonstrated strong performance this year as cryptocurrency prices have skyrocketed. On May 13, the crypto exchange stock rose over 10% in the pre-market following its addition to the S&P 500 Index. The Coinbase stock continued with the momentum beyond then. On June 26, COIN recorded a new closing high of $375.07, following a 5.5% price rally. So far, the crypto stock has outpaced most of its peers in the digital assets industry.

The Coinbase exchange generates revenues from trading fees, subscriptions, and services. The trading fee revenue fluctuates in line with crypto prices. This means Coinbase generates more revenue when crypto prices are high. In contrast, falling crypto prices lead to lower revenue for the exchange. However, the revenues from subscriptions and services are less volatile. Coinbase stock price movements have roughly aligned with crypto price trends, even with the rising subscription and services revenue. In summary, enthusiasm for crypto trading is good for the Coinbase stock. In the last 24 hours, the global crypto market cap has rallied over 1% to $3.39 trillion. Many top cryptocurrencies are trading in the green, highlighting the bullish trend. Bitcoin (BTC), the leading market coin, has increased slightly by 0.6% to $109,021. In the same vein, Ethereum rose 3.4% to $2,652, while XRP price surged 3.9% to $2.3. The bullish outlook in the crypto market raises the possibility of Coinbase stock reaching Martinez’s $2,000 target.

Many crypto market stocks, including MARA, MSTR, RIOT, and HOOD, have benefited from the latest crypto price rebound. Shares of Bitcoin mining firm Marathon Holdings (MARA) hovered around $17.8 during pre-market trading today. Within the past 24 hours, the value of MARA increased by 1.57%. Likewise, Strategy stock (MSTR) climbed 1.24% to trade at $401.85 in the latest session. This rally follows a bullish report on Tuesday, July 8, 2025. The firm reported $14 billion in total Bitcoin fair value appreciation in the second quarter of 2025. However, some volatility were recorded considering the firm temporarily paused its BTC purchases. Furthermore, Riot Platforms stock (RIOT) climbed 1.43% to trade at $11.74. Finally, shares of Robinhood Markets rallied 2.73% to $93.76.