Coinbase Stock Just Broke Above Its 50-Day Moving Average on Trump Support. Should You Buy COIN Here?

Group 1 - Coinbase (COIN) stock closed nearly 15% higher on March 4 after President Trump signaled support for the Clarity Act, indicating a shift from bearish to bullish trend as COIN breached its 50-day moving average [1][4] - Trump's remarks on Truth Social urged banks to engage positively with the crypto industry, reducing regulatory risk and enhancing Coinbase's valuation [4] - The potential for a more accommodative policy backdrop improves visibility around critical growth levers for Coinbase, such as banking access and custody partnerships [5] Group 2 - Coinbase is evolving from a speculative trading desk into an "everything exchange," with 12 products generating over $100 million each in annual recurring revenue, diversifying its income [6] - Institutional confidence remains high, exemplified by investor Cathie Wood's recent purchase of over 20,000 COIN shares for $4.1 million [7] - Coinbase now holds over 12% of the global cryptocurrency market cap and is attractive at a price-to-sales (P/S) multiple of less than 7x [7]