Coinbase, the leading cryptocurrency exchange in the US, has seen its share price soar by 422% since the beginning of the year, as investors flock to gain exposure to the booming crypto market.
The company, which went public in April, reported record revenues and profits in the third quarter, driven by strong trading volumes and user growth. Coinbase now has more than 73 million verified users, up 96% year-over-year, and more than 9.4 million monthly transacting users, up 117% year-over-year.
The impressive performance of Coinbase reflects the growing demand for bitcoin and other digital assets, which have reached new highs in 2021. Bitcoin, the largest cryptocurrency by market capitalization, recently surpassed $60,000 for the…
