Welcome to the US Crypto News Morning Brief—where we provide the most important cryptocurrency information for today.
Let's sip some coffee while reading about how faith and patience helped investors early escape from losses. A famous cryptocurrency stock is drawing attention, with early investors who have waited for years finally seeing positive signs.
Cryptocurrency News of the Day: Coinbase IPO Investors Profit for the First Time Since 2021
The Coinbase exchange went public in 2021, with its COIN stock launching in one of the largest IPOs.
After Coinbase's $28 billion IPO, the COIN stock reached a local peak of $429.54 in April 2021, before dropping to a low of $31.55 in January 2023. This created a 92.6% decline in just over a year, forcing investors to wait to break even.
After more than four years of waiting, Coinbase IPO investors have finally turned a profit. On 07/18, COIN price reached an All-Time-High (ATH) of $444.65, before a quick adjustment. At the time of writing, Coinbase stock was trading at $428.75 before market open.
With this, it is just slightly above its IPO price. At the time of writing, its new ATH marked a symbolic turning point for the company's earliest supporters. This recovery reflects broader optimism about the cryptocurrency market in 2025.
This peak coincided with a successful Cryptocurrency Week, as the GENIUS and CLARITY Acts were passed.
"I invested $1,500 in Coinbase's IPO 4 years ago. Today I'm in profit," an investor joked.
The return to profitability for Coinbase IPO investors comes as COIN continues to rise due to increasing investor confidence. On-chain analysts like Ali Martinez are now setting ambitious new targets for the stock.
"Coinbase COIN could become one of the best-performing cryptocurrency stocks as it aims for $950 to $1,550," Martinez posted on 07/20.
Notably, besides Coinbase's COIN, most cryptocurrency stocks are performing well, including Robinhood's HOOD.
Analysts suggest the broad market growth is due to improved sentiment towards risky assets.
