Coinbase stock has surged 38% since June 18, hitting a 52-week high of $369 before settling at around $352 on Wednesday. This dramatic upswing is largely attributed to renewed regulatory clarity both in the United States and the European Union, alongside a favourable price target revision from global investment firm Bernstein.
The rally began after the U.S. Senate passed the GENIUS Act, the first major bill establishing a regulatory framework for stablecoins, cryptocurrencies pegged to fiat currencies like the U.S. dollar. This bill, if approved by the House of Representatives, would offer clear compliance pathways for stablecoin issuers such as Circle and benefit Coinbase’s substantial stablecoin business, which accounted for 15% of its Q1 2025 revenue.
EU MiCA Approval a Game-Changer
Coinbase’s upward momentum continued after becoming the first U.S.-based crypto exchange to receive a Markets in Crypto Assets (MiCA) license under the European Union’s comprehensive crypto framework. Granted in Luxembourg, this approval allows it to legally operate across all 27 EU member states.
This development is particularly significant, as it cements Coinbase’s position as a global leader in the crypto market at a time when regulatory compliance is becoming crucial for institutional and retail adoption. The MiCA licence enhances Coinbase’s credibility and opens the door to a larger, more secure customer base in Europe.
Bernstein Raises Target to $510
Investor enthusiasm was further fuelled by a new report from Bernstein on Wednesday. Analyst Gautam Chhugani revised Coinbase’s price target by the end of 2027 from $310 to a striking $510, a 65% jump. Chhugani described it as “the most misunderstood company in our crypto coverage universe,” citing multiple undervalued strengths.
These include:
- Coinbase’s status as the only crypto firm in the S&P 500
- Its dominance in U.S. crypto trading and institutional markets
- The largest stablecoin business among exchanges
- Ownership of Deribit, the largest global crypto options platform
- Operation of Base, the fastest Ethereum Layer-2 chain
Chhugani emphasised that Coinbase’s integrated ecosystem gives it unmatched leverage in the evolving regulatory and technological landscape of crypto.
Further Upside Potential Remains
Despite the recent 38% rally, some analysts believe Coinbase still has room to grow. Devin Ryan of Citizens Bank commented, “The pace of news flow around Coinbase has been torrid over the past few weeks, and even after an approximately 40% stock move thus far in June, we still do not believe the market is fully connecting the dots.”
In addition to the GENIUS Act, investors are eyeing another potential catalyst: the CLARITY Act, introduced in the U.S. House of Representatives. This legislation aims to define the roles of agencies like the SEC in overseeing digital assets, something that could further stabilise the crypto sector and benefit compliant firms like Coinbase.
With major regulatory wins, institutional confidence, and strategic global expansion, Coinbase has reinforced its reputation as a pillar of legitimacy in the crypto world. The company’s ability to navigate complex legal environments while innovating across multiple verticals places it in a strong position moving forward.
