Performance release day saw a dip of roughly 3% for Coinbase Global’s shares. The company’s explanation pointed to “subdued trading markets,” a scenario analysts believe likely persisted into the second quarter.

Though short-term results can be hindered by crypto market fluctuations, Coinbase’s stock appreciated by more than half in 2025. This uptick follows acquisitions enhancing its position as a comprehensive hub for crypto enthusiasts, combined with optimism about a potentially more favorable regulatory framework.

In May, Coinbase secured Deribit, a platform for crypto options, with a cash-and-stock transaction worth $2.9 billion. Earlier in the month, Liquifi, a facilitator for startups in token management and distribution, joined its portfolio. Additionally, Coinbase amplified its footprint within the payments domain. An on-chain platform was launched to aid businesses in managing stablecoin transactions, while a partnership with American Express introduced a credit card offering rewards in Bitcoin.

Coinbase’s second-quarter earnings are anticipated to rise year-over-year, although estimates compiled by Visible Alpha indicate a dip in adjusted earnings before itemization, depreciation, and amortization (EBITDA). Opinions on Wall Street vary, with five analysts rating the stock a “buy,” five marking it as “hold,” and one suggesting “sell.” The consensus target price is $381.40, hinting at a modest increase from Wednesday’s close, yet a decrease from Thursday’s intraday heights.

UPDATE—July 31, 2025: Recent price values have been incorporated into this article following its initial publication.