Coinbase Global, Inc. (NASDAQ: COIN) is trading higher in Friday’s holiday‑shortened session as a powerful mix of fresh institutional buying, upbeat analyst calls and a firmer bitcoin price pushes the crypto exchange’s stock back toward recent highs.
As of late‑morning U.S. trading on November 28, Coinbase shares were changing hands around $273–$274, up a little over 3% on the day from Wednesday’s close at $264.97. The stock has traded between $269.78 and $279.81 so far today on volume of nearly 6 million shares, below its recent average of roughly 10–11 million. [1]
The move comes as U.S. stocks grind higher on the last trading day of November, with the S&P 500 and Nasdaq in the green and Coinbase singled out among notable gainers in Associated Press market coverage. [2]
Below is a deeper look at what’s driving COIN stock today and how it fits into the broader crypto and equity backdrop.
Coinbase Stock Price Today: COIN Rebounds in a Volatile Week
- Last trade (approx.): $273.59
- Day change: +$8.62 (about +3.3%)
- Day range: $269.78 – $279.81
- Prior close (Nov 26): $264.97
- 52‑week range: $142.58 – $444.65 [3]
After sliding from October highs above $360 to the mid‑$260s in November, Coinbase is attempting a rebound. Historical data show COIN closed at $264.97 on Wednesday, already up more than 4% on the day and near the middle of its recent 30‑day range between roughly $232 and $373. [4]
Today’s gains leave the stock still well below its 52‑week high around $445, but far above its 52‑week low near $143, underscoring the extreme volatility that has defined Coinbase’s trading profile in 2025. [5]
The rally is unfolding in a Black Friday session where U.S. markets close early at 1 p.m. ET and volumes are typically thin, a dynamic that can amplify intraday swings in high‑beta names like COIN. [6]
Why COIN Is Moving: Ark Invest Buying and Crypto Tailwinds
Ark Invest steps in with a $16.5 million buy
One of the clearest near‑term catalysts is fresh demand from Cathie Wood’s Ark Invest.
- Ark purchased about $16.5 million worth of Coinbase stock on November 26, distributing the buy across ARK Innovation (ARKK), Next Generation Internet (ARKW) and its blockchain‑focused ARKF ETF. [7]
- The purchase added roughly 62,000+ COIN shares and made Coinbase one of the top holdings in Ark Innovation by dollar value, reinforcing the firm’s long‑running bullish stance on the crypto exchange. [8]
A detailed breakdown from The Tokenist notes that COIN had already bounced from technical support around $250 when Ark stepped in, with the stock closing at $264.97 on November 26—up 4.27% that day—and trading around $276 on Friday morning, a gain of just over 4% at that earlier snapshot. [9]
For short‑term traders and algorithms that track “whale” activity, a high‑profile, conviction buy from Ark is an obvious bullish signal and part of today’s narrative around the stock.
Bitcoin stabilizes near $90–92K
Coinbase’s move also reflects the broader crypto backdrop:
- A market overview from CoinCentral highlights that bitcoin is holding near $90,000, with prediction markets assigning high odds that it stays capped around $92,000 into month‑end. [10]
- Separately, Associated Press reporting notes that Coinbase Global gained about 4% today as bitcoin climbed back above $92,000, recovering from last week’s dip toward the low‑$80,000s. [11]
Because Coinbase’s revenues are still tied heavily to trading volumes and crypto prices, relief rallies in bitcoin tend to give the stock outsized beta to the upside—especially on days when macro sentiment is risk‑on and volumes are thin.
Fed expectations and macro mood
Both equity and crypto markets are being supported by growing expectations that the Federal Reserve will cut interest rates again in December, with AP reporting that traders put the odds of another cut well above 80%. [12]
Lower rates typically support high‑growth, high‑volatility assets such as crypto and fintech stocks, adding another macro tailwind for COIN in today’s session.
Fundamentals in Focus: Q3 2025 Earnings Were a Breakout Moment
While today’s move is driven by flows and sentiment, investors are still digesting a very strong third quarter of 2025 from Coinbase.
Revenue surges and profits soar
Coinbase’s Q3 2025 results, released October 30, were widely viewed as a major beat:
- Total revenue: around $1.9 billion, up roughly 55% year‑on‑year, with analysts previously expecting closer to $1.8 billion. [13]
- Transaction revenue: about $1.05 billion, nearly doubling from $572.5 million a year earlier as volatility drove more trading. [14]
- Subscription & services revenue: roughly $746–747 million, up more than 30% year‑on‑year and 14% quarter‑on‑quarter, fueled by stablecoin and custody businesses. [15]
- Net income: about $433 million (around $1.50 per share), up nearly five‑fold from roughly $76 million in the same quarter last year. [16]
The company’s shareholder letter and earnings call emphasized that Coinbase is now consistently profitable while still growing, with adjusted EBITDA of roughly $800 million for the quarter and strong cash generation. [17]
Stablecoins, derivatives and “the everything exchange”
Several strategic themes from Q3 continue to underpin the bull case:
- Stablecoins: Coinbase reported $355 million in stablecoin‑related revenue in Q3, supported by rising USDC balances on and off platform and tailwinds from the new GENIUS Act stablecoin framework in the U.S. [18]
- Derivatives: The firm completed its acquisition of derivatives platform Deribit, which contributed meaningfully to institutional transaction revenue and is seen as a key lever for growth in options and futures trading. [19]
- Subscriptions & services: Higher‑margin subscription and services revenue, including custody, staking and interest income, now accounts for a large chunk of overall revenue and is less sensitive to spot trading volumes.
In aggregate, recent reporting from Reuters framed Coinbase as “cash‑rich and growth‑ready,” shifting from a pure trading platform toward a broader financial infrastructure provider for the crypto economy. [20]
Analyst Views: Price Targets High Even After Redburn Cut
Today also brings fresh analyst commentary that investors are watching closely.
Redburn trims target but keeps “Buy”
A new note from Rothschild & Co Redburn lowered its price target on Coinbase from $417 to $404 while maintaining a “buy” rating. At the time of the report, that target implied roughly 45% upside from prevailing prices. [21]
The same MarketBeat summary highlights that:
- Coinbase sports a market capitalization near $75 billion and a trailing P/E ratio around 24.
- Analysts collectively rate the stock a “Moderate Buy”, with a consensus target near $398 based on dozens of Wall Street estimates. [22]
A wide spread of price targets
Other recent calls paint a picture of both optimism and caution:
- H.C. Wainwright recently upgraded Coinbase from Sell to Buy with a $425 price target, citing robust trading volumes and improving regulatory clarity. [23]
- Cantor Fitzgerald and Rosenblatt have targets in the $450–$470 area, reflecting confidence in Coinbase’s competitive position and Q3 execution. [24]
- On the other side, Argus Research recently downgraded the stock to Hold on valuation concerns after a sharp year‑to‑date rally. [25]
The result is a very wide target range, from roughly $200 at the low end to above $500 at the high end, underscoring the degree of disagreement among analysts about how sustainable Coinbase’s current earnings power really is. [26]
Institutional and Insider Activity: Contrasting Signals
Hedge‑fund trimming vs. Ark accumulation
Alongside Ark’s fresh purchase, other institutions have been reducing exposure:
- A new filing shows Quadrature Capital Ltd cut its Coinbase stake by 57.1% in Q2, selling more than 200,000 shares and ending the period with 151,040 shares worth about $52.9 million, or roughly 0.06% of the company. [27]
- MarketBeat data indicate that institutional investors and hedge funds collectively own about 69% of Coinbase’s outstanding shares. [28]
This mix—hedge funds trimming while Ark doubles down—reinforces the idea that COIN is increasingly a battleground stock among professional investors.
Heavy insider selling in recent months
Regulatory filings and compiled data show notable insider selling through the fall:
- MarketBeat’s latest tally notes insiders have sold roughly 763,000 shares worth about $236 million over the last 90 days. [29]
- Individual transactions include:
- COO Emilie Choi, who sold 100,000 shares at an average price around $311 on November 11. [30]
- CEO Brian Armstrong, who disposed of 40,000 shares at around $272 per share in a mid‑November sale. [31]
- Chief Legal Officer Paul Grewal and other executives selling additional tranches in late November, including a roughly $2.9 million sale by Grewal. [32]
Insiders still control close to 18% of Coinbase stock, but the scale of recent selling is something many investors will continue to watch as the valuation climbs. [33]
Regulatory and Product Developments: Texas Move, Token Launch Platform and USDC Bugs
Beyond earnings and flows, Coinbase’s corporate and regulatory news flow remains busy.
Reincorporation in Texas
In mid‑November, Coinbase disclosed plans to reincorporate in Texas, exiting Delaware and citing the state’s growing appeal as a hub for innovative companies. [34]
While largely a legal and administrative shift, the move is being interpreted as a signal about where the company sees a more favorable long‑term regulatory and business environment inside the U.S.
New platform for early access to tokens
Earlier in the month, Coinbase announced a new platform that will let individual investors buy certain digital tokens before they officially list on the main exchange, sending its shares higher on the day of the announcement. [35]
StocksToTrade and other outlets noted that Monad’s token is slated to be one of the first offerings on this platform, which could open a new revenue stream via token sales and boost Coinbase’s role in primary crypto issuance. [36]
Compliance headwinds and technical issues
Regulation and operational risk remain important counterweights:
- In early November, Ireland’s central bank fined Coinbase’s European arm €21.5 million for shortcomings in anti‑money‑laundering and counter‑terrorist financing controls. [37]
- TradingView and other outlets report that Coinbase has recently had to investigate display issues affecting USDC balances for some users on Coinbase.com and its mobile app, following earlier notices about delayed sends and receives on several networks. [38]
For investors, these headlines highlight the dual reality of Coinbase’s position: it is one of the most regulated and institutionally connected firms in crypto—and therefore a perceived safer gateway—but that status comes with ongoing compliance obligations, scrutiny and reputational risk.
Macro Backdrop: Crypto and Stocks Try to End November on a High Note
Today’s COIN rally is unfolding against a broader cross‑asset backdrop that both helps and complicates the story:
- Bitcoin: After briefly dipping below $82,000 last week, bitcoin has clawed back to around $90,000–$92,000, with derivatives and prediction markets suggesting limited upside through the end of November. [39]
- Equities: U.S. indexes are higher today but still on track for a down month, as tech stocks cooled after a long AI‑driven surge. [40]
- Rates & Fed: Traders are increasingly confident the Fed will cut interest rates again in December, a key reason high‑beta growth names and crypto‑exposed stocks like Coinbase have bounced in the last week. [41]
Coinbase’s high reported beta of about 3.7 means it tends to move more than three times as much as the broader market on any given day, in either direction—something clearly visible in November’s swing from the $360s down toward $240 before the latest rebound. [42]
Key Things for COIN Watchers to Monitor After Today’s Move
For investors and traders following Coinbase stock into December, today’s action fits into a bigger picture:
Bullish factors
- Sustained profitability and strong Q3 revenue growth driven by both trading and subscription businesses. [43]
- Expanding product set (Deribit derivatives, new pre‑listing token platform, growing stablecoin revenue). [44]
- Major long‑term holders like Ark Invest adding to positions and a consensus “Moderate Buy” rating with price targets well above current levels. [45]
Bearish or cautionary factors
- Share price still far below its 52‑week high yet up dramatically from last year’s lows, leaving valuation sensitive to any disappointment. [46]
- Heavy insider selling across multiple executives in recent months. [47]
- Regulatory and compliance risks, including recent fines and ongoing scrutiny in the U.S. and Europe. [48]
- COIN’s strong correlation to bitcoin and broader risk sentiment, which can rapidly reverse if crypto or equity markets sour.
Bottom Line
On November 28, 2025, Coinbase stock is finishing the month on a strong note, trading higher on the day as institutional buying, resilient crypto prices and upbeat analyst coverage all converge.
At roughly $273 per share, COIN sits:
- Well above its 52‑week low but still meaningfully below its highs;
- On a valuation multiple that assumes continued growth and profitability;
- At the center of ongoing debates about regulation, competition and the long‑term economics of crypto trading and infrastructure. [49]
For now, Coinbase remains what it has been for much of 2025: a high‑conviction play for believers in the long‑term maturation of the crypto economy, and a high‑risk, high‑volatility trade for everyone else.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment or trading advice. Always do your own research and consider consulting a licensed financial professional before making investment decisions.
References
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