Coinbase climbs 8.2% as crypto market rally strengthens
Coinbase stock surged to $186.49 as Bitcoin approached $79,000 and institutional inflows into spot ETFs accelerated the broader market rebound.
Coinbase shares extended a crypto-driven rally with an 8.2% jump to $186.49. The move came as Bitcoin briefly pushed above $79,000, its highest level since May, while Ethereum climbed roughly 30% over the week. U.S. spot Bitcoin and Ether ETFs recorded combined net inflows of $827 million on August 20, with Bitcoin ETFs attracting $606 million and Ether ETFs $221 million.
The stock has broken above a descending trendline that had dominated for months, though resistance persists in the $196–$200 range. The article notes that the next trading sessions may reveal whether the move represents a temporary relief rally or the beginning of a sustained advance.
Coinbase CEO Brian Armstrong has grown more constructive on market prospects, suggesting crypto spot trading could be entering a new bull phase. He attributed this partly to the length of previous bear cycles and expected regulatory progress, including the upcoming CLARITY Act process. The company's revenue mix has shifted meaningfully: Q2 2026 net revenue reached $1.2 billion, with $555.1 million from subscription and services, such that 88% of revenue excluding Bitcoin spot trading came from its broader business.
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