Coinbase (COIN) stock price surged 26% in 5 days along with the rise in BTC price.

Most stock and cryptocurrency analysts are predicting a 100% increase in the upcoming Q4 2023 earnings report. All the positive emotions help COIN stock attract investors.

Coinbase is a US-based cryptocurrency exchange. This cryptocurrency trading company’s services are available in most countries where cryptocurrency trading is legal. Since mid-2023, Coinbase has faced enormous legal hurdles with the country’s securities regulator, the SEC. The SEC agency is trying to force the fight against Coinbase on behalf of traditional securities laws.

The company expects Coinbase’s revenue to increase significantly in the fourth quarter to $825 million, up about 22% from the third quarter, according to estimates from MarketWatch and FactSet.

Along with these data-driven reports, some have claimed that Coinbase will report nearly doubling its revenue in the fourth quarter of 2023 compared to the third quarter.

To put it simply, Coinbase could report a profit of $142.3 billion in the fourth quarter, while it generated $76 billion in the third quarter.

Following all this speculation, Coinbase stock has attracted a lot of attention among investors. Over the past five days, the trading price of COIN stock has surged nearly 26%.

In the last 24 hours, the price of the coin has surged 14.5%, which is enough to show investor sentiment towards Coinbase stock.

Over the past six months, the cryptocurrency market has seen significant increases in trading prices for major crypto assets, clearly leading to a surge in total cryptocurrency trading volume on most cryptocurrency platforms.

Cryptocurrency companies, including the Coinbase exchange, generate most of their revenue from cryptocurrency trading fees during the rising phase of the cryptocurrency market.

bitcoin transaction price

The current trading price of Bitcoin (BTC) is $52,237, which is 55.46% higher than the last 24 hours.