18.07.2025 23:56

Coinbase (COIN) stock has reached an unprecedented peak, exceeding its previous high set during its 2021 initial public offering (IPO). This surge coincides with the imminent signing of the GENIUS Act at the White House, a development viewed favorably by investors given the significant role stablecoins play in Coinbase's operations.

TradingView data confirms this new all-time high for COIN, surpassing the $429 mark achieved on its IPO day. At the time of writing, the stock is trading at approximately $436, reflecting a more than 6% increase for the day. This remarkable climb follows the U.S. House's approval of the GENIUS Act, a stablecoin bill of immense importance to Coinbase.

The bill's passage is particularly significant because stablecoin transactions account for roughly 15% of Coinbase's revenue. Analysts anticipate the act will stimulate growth within the U.S. stablecoin sector, potentially leading to increased revenue for the crypto exchange in the long term. Indeed, the GENIUS Act prompted Bernstein analysts to raise their COIN stock price target to $510 earlier this year, further bolstering investor confidence.

Coinbase's strategic expansion into the stablecoin market adds another layer to this positive momentum. Their recent integration with Shopify, enabling merchants to accept USDC stablecoin payments, exemplifies this expansion and adds fuel to the stock's rise. This positive trajectory is only amplified by the GENIUS Act's official enactment today, announced by Trump as a "big signing" scheduled for 2:30 p.m. EST.

This optimistic sentiment extends beyond Coinbase; other cryptocurrency-related stocks, including CRCL, HOOD, and GLXY, are also experiencing gains today. This market-wide positivity stems from the increased regulatory clarity provided by the newly passed stablecoin bill. CRCL, for instance, shows a double-digit increase, while Robinhood and Galaxy Digital stocks have also seen increases exceeding 6%.