Coinbase shares closed up 19.7%, reaching their highest point since November 2021

Odaily Planet Daily Report: Since Trump won the US presidential election, the market has continued to rise, and Coinbase has become one of the outstanding stocks in the past week. Coinbase's stock price closed at $324.24, up 19.7% on Monday. According to Yahoo Finance data, this is the highest closing price for the stock since November 19, 2021. Bloomberg ETF analyst Eric Balchunas wrote on X on Monday that "the Bitcoin frenzy has also swept the stock market, as Coinbase and MicroStrategy are among the five stocks with the highest trading volume today, which I have never seen before, only Tesla and Nvidia are more, it feels like a craze, at least for now." Coinbase's stock price has hovered between $150 and $280 for most of the year, and has risen 75% in the past five trading days. CNBC's MacKenzie Sigalos said on Monday, "I think the reason Coinbase and Robinhood stocks have performed so well is because they promised to fire the SEC chairman (Gary) Gensler on their first day. Coinbase has been fighting the regulators in court for over a year... so if there is a change in the SEC's top leadership, this may not be realized in the actual litigation." (The Block)