Coinbase (NASDAQ: COIN), the leading cryptocurrency exchange in the U.S., reached $100 billion market cap in Monday’s trading session, propelled by Bitcoin’s surge to an unprecedented all-time high over the weekend.
Coinbase shares closed up 1.8% at $394.01, marking a new all-time closing high for the stock since its public debut in April 2021. The stock also hit an intraday high of $398.50. This strong performance has pushed Coinbase’s market capitalization to approximately $100.36 billion, according to Yahoo Finance data, marking the first time the crypto exchange has crossed the $100 billion valuation threshold.
The impressive 50% surge in Coinbase shares over the past month is attributed to several factors, including the highly successful initial public offering (IPO) of Circle Internet Group (ticker CRCL) and favorable regulatory developments within the United States.
Adding to its growing prominence, Coinbase shares were included in the prestigious S&P 500 index on May 19, 2025, making it the first pure-play crypto company to join the benchmark index. Analysts have largely celebrated COIN’s trajectory, with Bernstein recently raising its price target to $510 and dubbing Coinbase the “Amazon of crypto financial services.”
Bitwise CIO Matt Hougan had previously foreseen Coinbase’s potential, predicting in a May 13 post on X that it could become a $1 trillion company, noting, “Pick a company currently valued below $100 billion that has the highest chance of being a $1+ trillion company some day. I’ll start: Coinbase at $61 billion.”
Coinbase has also demonstrated a strategic shift towards diversifying its revenue streams. Its non-transaction-based revenue has shown consistent growth over the past year, reaching $772 million in the first quarter, as per The Block’s data dashboard. In a move to bolster its digital presence, the company recently announced the hiring of pseudonymous social media personality AlexOnchain to expand its social media outreach.
