Bitcoin’s Rise Above $70,000 Benefits Crypto Exchange Coinbase!

The recent rise in Bitcoin has had a positive impact on the shares of Coinbase (COIN), the largest crypto exchange in the United States. The positive start of the cryptocurrency market this week, especially for Bitcoin, and its sustained performance has benefited Coinbase’s shares. While Bitcoin has shown a 6% increase since Monday, COIN closed Monday with a 9.4% rise. Despite the decline in US stocks on Monday, Coinbase shares showcased impressive performance. While the SP 500 witnessed a 0.17% decline, Nasdaq experienced a 0.13% value loss. The shares of the largest US exchange, which successfully reflect the increases in the cryptocurrency market, have seen a 63% increase since the beginning of the year.