Coinbase stock soared to a new all-time high of $436 during early trading on July 18, driven by renewed investor confidence following significant legislative wins for the crypto industry.
According to Yahoo Finance data, this is the highest price for Coinbase shares since the company debuted on the Nasdaq in 2021.
The price increase also added to the exchange’s strong week, which has gained 14% over the past five trading days. This increase significantly contributed to the platform surpassing the $100 billion market capitalization milestone.
Why Coinbase stock is rallying
The bullish momentum came shortly after the US House of Representatives approved key crypto-related bills, including the GENIUS Act and the CLARITY Act.
These bills, now awaiting President Donald Trump’s approval, are being viewed as historic moves toward regulatory certainty for the digital asset space.
Speaking on these bills, Coinbase CEO Brian Armstrong said:
“We are getting incredibly close to finally having clear rules for crypto to grow this industry in the United States of America.”
Sumit Gupta, the CEO of India-based CoinCDC, echoed this sentiment, while adding that:
“This provides more regulatory clarity and legitimizes crypto on a global stage. It also paves the way for mainstream adoption and real-world use cases”
Insider selling
Meanwhile, Coinbase’s recent price action has also been supported by increasing interest from large institutional investors.
Quiver Quantitative reported that the State of Alaska opened a new $8 million position in Coinbase stock. Similarly, the Czech National Bank revealed a $18 million stake in the company at the end of Q2.
However, insider selling activity has been notable during this rally despite this wave of positive acquisitions.
Data from Dataroma shows Coinbase executives have offloaded over $230 million worth of stock this week. Armstrong accounted for $228 million of that figure, while CFO Alesia Haas sold $2 million in shares.
This divergence between insider selling and institutional buying raises questions about near-term valuations, even as long-term confidence in the company and broader crypto sector appears to grow.
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