Coinbase surpasses $380 again, regaining its April 2021 IPO level after a more than 90% drop during the bear market.
The imminent launch of perpetual contracts in the United States marks a major first for the domestic market, offering regulated products targeting massive demand.
Coinbase is evolving into a key web3 infrastructure through ‘Coinbase Payments,’ its partnership with Circle, and a strategy focused on recurring revenue and e-commerce integration.
Coinbase retrouve son prix d’introduction en bourse
Coinbase had dropped more than 90% since its 2021 IPO. Four years later, the American giant finally reaches its introduction price, touching close to $382. A significant symbol for the entire crypto sector.
Une trajectoire en montagnes russes
Coinbase’s IPO in April 2021 marked the peak of the last bull market. The stock briefly reached $381, driven by widespread enthusiasm for digital assets. Then reality hit: market collapse, chain of bankruptcies (FTX, Celsius, Terra), regulatory tightening, and a steep drop of over 90% in the stock price.
But in June 2025, COIN finally crosses above $380. In a few months, the stock has more than doubled, supported by a favorable macro backdrop and clear signals of institutional crypto adoption.
Why it’s really going up
Behind this rebound is not just a return of market hype. Coinbase has strengthened its offering: launching ‘Coinbase Payments,’ a turnkey solution for merchants to accept USDC payments 24/7 via the Base network, its in-house blockchain on Ethereum. Direct integration with Shopify. Maximum simplicity. Clear ambition: to become the gateway between traditional commerce and Web3.
Another lever: its partnership with Circle, the issuer of USDC. Through a revenue-sharing agreement, Coinbase earns a portion of the returns generated by the stablecoin reserves. As the stablecoin sector experiences rapid growth, the platform capitalizes on a sustainable income stream, at the intersection of passive income and infrastructure role.
Coinbase launches perpetual contract trading
Another powerful catalyst: the imminent launch of ‘US Perpetual-Style Futures’ on July 21. Coinbase will offer its own perpetual futures contracts, designed for the US market and compliant with CFTC rules.
A small revolution. These products, very popular internationally (up to 90% of global crypto trading volume), were previously out of reach for US traders. With this offering, Coinbase captures massive demand, providing domestic, regulated access without relying on often risky offshore platforms.
Two initial contracts will be available: one on nano-Bitcoin (0.01 BTC), the other on nano-Ether (0.10 ETH). All with a funding mechanism to adhere to spot prices, maximum flexibility on position sizes, and 24/7 trading.
Coinbase thus enters the derivatives arena with a unique product in the US, potentially very profitable.
Market wants to believe
In a context where the Nasdaq and the S&P 500 set new records, crypto-listed companies regain credibility. Robinhood attracts new investors. And Coinbase is increasingly seen as the central player in this new generation finance.
Analysts are optimistic. Benchmark raised its target price to $421, betting on a more transparent US regulatory framework, especially for stablecoins and market structure. Bernstein goes further: $510 target. And a new nickname for Coinbase: the ‘universal bank of crypto’.
This return to the top is not just a stock market success. It’s a message. Coinbase, despite the storms, did not give up. And its rebound symbolizes the entry into a new phase: one of professionalization, embraced regulation, and a much stronger adoption than in 2021.
For many, crypto is finally coming of age. And Coinbase could become the public face of it.
