Why Coinbase Surged 27.8% in the 1st Half of 2024

Shares of Coinbase Global (COIN 1.58%) rose 27.8% in the first half of 2024, according to data from S&P Global Market Intelligence. Its first-quarter earnings results crushed it, and the company saw an explosion of trading volume, with $312 billion passing through its platform. That was a 102% increase from the prior quarter and a 115% increase from the same period one year earlier. Its institutional trading platform, Coinbase Prime, saw record trading activity and an unprecedented number of active clients ...