COIN
NASDAQAnalystsBuy33+52%Coinbase Global, Inc. ação
Financials · Capital Markets
$134.76last close
-54.4%~252d
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Price
-54.35% over 1Y2 auto-fib
Video teardown
A walkthrough of this page: the numbers, the levels, and where it sits.
Tese
em 2026-11-08
Bull case
Structural read: COIN is the listed-equity proxy for US crypto adoption - transaction take-rate compresses long-term, but subscription & services (USDC interest, staking, custody fees, Coinbase One) now run ~40%+ of net revenue and grow with onchain TVL rather than trading volume.
Base L2 monetization (sequencer fees) is the optional kicker. Regulatory overhang lifted post-2024 (SEC case dropped, ETF approvals, stablecoin framework in motion).
- Custodian for ~8 of 11 spot BTC ETFs + most spot ETH ETFs - AUC fees scale with ETF AUM
- USDC reserve income flows through the Circle JV ($CRCL); rate-sensitive but durable while Fed funds >3%
- Base L2 sequencer revenue + onchain activity (Coinbase Wallet, smart wallets) builds non-trading rev
- US stablecoin legislation (GENIUS Act track) hardens USDC moat vs offshore $USDT
- Coinbase One subs grow recurring rev independent of volume
Bear case
- Retail transaction take-rate (~1.5%) under structural pressure from $HOOD, $SQ, $IBKR zero-fee crypto
- USDC income is rate-sensitive - Fed cuts compress sub & services revenue dollar-for-dollar
- Crypto-cycle beta: revenue swings 50%+ peak-to-trough with BTC drawdowns
- Base competes with $ETH L1 + other L2s (Arbitrum, Optimism) on sequencer economics
- Concentration risk: ~80% of transaction rev still BTC + ETH
- 2024-01: Custodian for 8 of 11 SEC-approved spot BTC ETFs at launch (BlackRock IBIT, Fidelity FBTC, ARK ARKB, others)
- 2024-07: Custodian for majority of spot ETH ETF launches
- 2023-08: Base L2 mainnet launch - Ethereum L2 built on OP Stack
- Circle USDC JV: shares reserve interest income; restructured 2023 when Coinbase took equity stake in $CRCL
- BlackRock partnership (2022): Aladdin integration for institutional crypto access
- Coinbase Prime: institutional custody + trading platform, undisclosed asset base
- 2025: S&P 500 inclusion (May 2025) - first crypto-native name added
clientesBlackRock (IBIT custody) · Fidelity (FBTC custody) · ARK Invest (ARKB custody) · Circle ($CRCL USDC JV) · undisclosed institutional Prime clients
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Top correlated252d co-movement
Related research
Long-form analysis touching COIN
- 5 minCoinbase (COIN) Q3: $1.22B revenue, services at 49%, costs cut againCOIN printed $1.22B of revenue, flat on Q2 and down 35% in a year. Services reached 49% of net revenue and the 2026 expense guide came down again.
- 8 minPalantir (PLTR) explained: what it does, how it makes money, and why it trades like a meme stockPalantir sells an ontology layer, not dashboards: 93% revenue growth, 47% GAAP operating margin, and a 145x-earnings tape. What the company actually is, and why it moves with Robinhood, not with software.
- 7 minHow to invest in Stripe - the honest answer is you mostly can't (and why)Stripe ran a $159B tender offer in Feb 2026 and its founders call an IPO 'a solution in search of a problem.' Unlike OpenAI or Anthropic, no public company holds a Stripe stake. The real, thin exposure map: secondaries, ARKVX, and fintech adjacents.
- 5 minCircle (CRCL) Q3: $865M of revenue, $182M from the ARC token, core margin slipsCRCL grew revenue 17% to $865M, but $182M came from the ARC token presale. Without it, revenue less distribution costs fell to about $271M from $289M in Q2.
Recent news
High-signal only
- TIKR23h agobearishCoinbase Just Hit a New 52-Week Low After Losing 16% Since Earnings. Is the Selling Overdone?
- TheStreet2d agoCoinbase has news for gold holders
- Barrons.com2d agoWhat If the Only Companies That Let Their Stocks Be Tokenized Are Crypto Firms?
- Investor's Business Daily2d agobearishBitcoin Tumbles On ETF Flows, Liquidations. IREN Leads Miner Rebound Attempt.
- Stocktwits3d agoUS Fintech Weekly: Fiserv Bounces Post-Earnings, Crypto Brokers Suffer, And Federal Agencies Prepare Innovation Guidelines
- TheStreet3d agoHackers beware: Coinbase says 99% of customer crypto is kept offline
- The Wall Street Journal3d agoBitcoin Slides 5% as Tech Rout Deepens
- Yahoo Finance3d agobearishBitcoin tumbles below $76,000 as post-election stock rally fades
Key levels
- -22.7%$174.450.786 retr of 133.51->324.80 (52w) · 2026-11-06
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
- -34.8%$206.580.618 retr of 133.51->324.80 (52w) · 2026-11-06
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
- -41.2%$229.160.5 retr of 133.51->324.80 (52w) · 2026-11-06Out of reach · reference only
- -46.5%$251.730.382 retr of 133.51->324.80 (52w) · 2026-11-06Out of reach · reference only
Facts
- Exchange
- NASDAQ
- Currency
- USD
- Market cap
- $35.68B
- Last update
- 2026-11-06
Revenue (TTM)$5.4B
P/E -
P/S6.6×
Net margin-12.9%
Frequently asked questions
- Is COIN in LMBO?
- Yes, Roundhill S&P SMID 60 ETF (LMBO) holds COIN with 4.48% (as of 2026-11-02).
- Is COIN in METV?
- Yes, Roundhill Ball Metaverse ETF (METV) holds COIN with 3.61% (as of 2026-11-02).
- What ETFs hold COIN?
- Coinbase Global, Inc. (COIN) is held by LMBO (4.48%), METV (3.61%).
- What AI bubble is COIN in?
- Coinbase Global, Inc. (COIN) is mapped to the Enterprise SaaS AI bubble on QuantAbundance. Classifier 2026-05-07: extended tier, corr 0.50 to ai-software centroid (29 obs, 2nd: quantum 0.481). is_primary_bubble=FALSE.
- What sector is COIN in?
- Coinbase Global, Inc. is classified under GICS Financials (Capital Markets).
- What is COIN's last close price?
- COIN last closed at $134.76 on 2026-11-06.