Coinbase shares soar, Wall Street calls it "Amazon of the cryptocurrency world"
Source: CoinWorld
Time: 2025-09-12 21:02:19
Shares of Coinbase (COIN) and Circle (CRCL) surged Thursday, with COIN rising 5% to a multi-year high, with CRCL up more than 575% from its IPO price. The rise is driven by optimism about stablecoin regulation, including the recent GENIUS Act and the growing institutional adoption rate. Bernstein raised Coinbase’s target price to $510, citing its expansion into the payments and stablecoins sectors. Circle benefits from strong USDC demand, but competition from new entrants such as FIUSD, a subsidiary of Fiserv, brings risks. Meanwhile, HYLQ Strategy Corp is investing in the Hyperliquid decentralized exchange, which has traded more than $2 trillion in volume.