Coinbase Extends 5-Day Rally, Hits 4-Year High — Bernstein Sees 40%+ Upside to $510
TradingKey – Coinbase has surged nearly 40% over the past five trading sessions, closing at its highest level since November 2021.
On Wednesday, the stock gained another 3%, defying mixed performance across crypto-related equities. Meanwhile, Circle (CRCL) — a recent market darling — plunged more than 10%, snapping its winning streak.
Coinbase Price Chart – Source: TradingView.
While Circle has experienced a rollercoaster ride of sharp gains followed by steep losses, Coinbase (COIN) has maintained steady upward momentum, fueled by optimism around regulatory tailwinds and institutional adoption.
According to Benchmark analyst Mark Palmer, both Circle and Coinbase stand to benefit from the GENIUS stablecoin legislation, but Coinbase may have more upside under a crypto-friendly Trump administration. Unlike Circle, which focuses primarily on stablecoins, Coinbase operates across trading, custody, and infrastructure, making it a broader beneficiary of pro-crypto policy shifts.
Analysts are increasingly bullish:
- Citizens’ Devin Ryan has set a $400 price target,
- Bernstein recently raised its target from $310 to $510, implying a 43% upside from current levels.
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