In the first three months of 2023, Coinbase shares increased in price by 3.48 times

Coinbase shares reached a new high in the last 20 months, rising to $162 on December 19, 2023. Over the past year, this stock has posted a remarkable 348% gain.

Shares of the Coinbase cryptocurrency exchange showed growth of 348% in 2023, according to the TraidingView .

According to available information, on December 19, 2023, the COIN ticker immediately reached the level of $162. At the time of writing, the company's shares are trading at $161.

Thus, the securities of the cryptocurrency exchange reached a 20-month high. In December 2023 alone, shares increased in price by 66%. Coinbase's market capitalization, in turn, reached $38.6 billion.

Against the backdrop of rising asset prices, ARK Invest continues to sell shares of Coinbase. Between December 11 and December 17, 2023, the investment firm sold $59 million in exchange-traded securities.

However, Coinbase CEO Brian Armstrong believes that the cryptocurrency market has recovered after a significant correction. He called digital assets “the money of the future”, used by 425 million people.

On December 18, 2023, it was reported that Coinbase and other industry players supported the Super PAC Fairshake. The firms provided the organization with $78 million, which will be used to support pro-cryptocurrency candidates in the 2024 US Congress.