Coinbase (COIN) stock closed nearly 15% higher on March 4 after President Donald Trump signaled his support for the Clarity Act, which is currently up for debate in Congress. The subsequent momentum helped COIN breach its 50-day moving average (MA), indicating that the medium trend has shifted from bearish to bullish.
Despite yesterday's gains, Coinbase shares remain down nearly 20% versus their year-to-date high.
Trump’s Remarks Are Bullish for Coinbase Stock
In a recent post on Truth Social, Trump urged conventional banks to “make a good deal with the crypto industry because that’s in the best interest of American people.”
COIN stock soared as administrative pressure on financial institutions to cease obstructing crypto innovation lowers the regulatory risk premium that’s long suppressed its valuation.
It signals a potentially more accommodative policy backdrop, improving visibility around banking access, custody partnerships, and fiat on-ramps — all critical growth levers for Coinbase Global Inc
Note that this cryptocurrency stock has a history of closing March in the green; a seasonal pattern that makes it even more attractive to own in the near term.
Is it Too Late to Invest in COIN Shares?
Beyond political headlines, Coinbase remains worth owning as its fundamental story is evolving from a speculative trading desk into an “everything exchange.”
The Nasdaq-listed firm now has 12 products generating more than $100 million each in annual recurring revenue, effectively diversifying its income away from volatile transaction fees.
Moreover, institutional confidence remains high given famed investor Cathie Wood spent another $4.1 million to load up on more than 20,000 COIN shares just this week.
Expanding into 24-hour commission-free stock and exchange-traded fund (ETF) trading, Coinbase now custody over 12% of the global cryptocurrency market cap, which makes it attractive at a price-to-sales (P/S) multiple of less than 7x.
What’s the Consensus Rating on Coinbase?
Wall Street analysts also remain convinced that Coinbase Global will rip significantly higher from here, especially as the broader crypto market resumes its upward trajectory at some point in 2026.
The consensus rating on COIN shares sits at “Moderate Buy” currently, with the mean price target of about $250 indicating potential upside of roughly 20% from here.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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