The crypto market’s small bull run in early 2023 has also benefited the cryptocurrency-related stock sector, with the share price of both Coinbase and Riot Blockchain rising.
Coinbase’s recent stock performance
Coinbase landed on the stock exchange in April 2021, at the height of the bubble.
The initial price was even around $350, which was a peak touched again in November of the same year, also at the height of the bubble.
In contrast, 2022 was a year to forget, with a collapse of as much as 91% from the highs of November 2021.
The lowest peak was reached in late December and early January 2023, when Coinbase’s share price had plummeted to around $32, but then there was a big bounce.
Basically, the trend of COIN stock on the Nasdaq follows fairly closely that of the crypto market, with some differences.
For example, Bitcoin’s annual price high was a few days ago, while Coinbase’s annual share price high occurred in early February.
In other words, in the first
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