Coinbase Surges as Ethereum Ecosystem Drives $4.78B Trading Volume Ranking 12th in Market Activity

On August 11, 2025, Coinbase Global (COIN) saw a 2.92% rise in its stock price, with a trading volume of $4.78 billion—a 67.93% increase from the previous day—ranking 12th in market activity. The surge aligns with Bernstein’s analysis highlighting Coinbase’s growing alignment with Ethereum’s expanding ecosystem. Ether’s price has surged 80% since June 5, driven by Circle’s listing and the dominance of Ethereum in stablecoin minting, directly benefiting Coinbase through its Layer 2 chain, Base. The platform processes over 9 million daily transactions, with gas fees settled in ETH, generating $75 million in annualized revenue. Coinbase’s integration of Base tokens into its primary exchange has boosted trading activity, while its Base App wallet further deepens exposure to Ethereum. The company also holds a $590 million ETH treasury, amplifying gains from the token’s price rise.

Bernstein’s report underscores Coinbase’s strategic position to capitalize on Ethereum’s growth, noting that July trading fees surged 40% compared to Q2 averages. The firm maintains an “outperform” rating on COIN with a $510 price target. Recent updates, including decentralized exchange (DEX) trading integration, have enhanced user access to Base’s token ecosystem. Despite a 5.4% drop six days prior due to a $2 billion convertible note offering, the stock remains 21% below its 52-week high. Institutional demand and macroeconomic optimism continue to fuel crypto-related assets, with Coinbase’s diverse token listings positioning it to benefit from broader Ethereum adoption.

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