Coinbase (COIN) hits an all-time high, fueled by regulatory developments and new product launches. But can the momentum last? We break down the factors driving Coinbase's surge and what analysts are saying.

Coinbase Stock Soars to New Highs: What's Driving the Rally?

Coinbase (COIN) is on a roll, recently hitting a new all-time closing high. The stock's surge has investors and analysts buzzing, but can it maintain this momentum? Let's dive into what's fueling this rally and what the future might hold.

Coinbase Breaks Records

Coinbase shares closed at $369.21 on Thursday, a 3.89% increase for the day and almost 40% for the month, according to Google Finance. This surpasses its previous high of $357.39 from November 2021. This surge follows Coinbase's inclusion in the S&P 500 in May.

Factors Fueling the Surge

Several factors are contributing to Coinbase's impressive performance:

• Regulatory Developments: Progress on stablecoin regulation in the U.S., particularly the GENIUS Act, has boosted investor confidence. Coinbase co-created the USDC stablecoin and receives a significant portion of its revenue from it.
• New Product Launches: Coinbase is set to launch U.S.-regulated perpetual-style futures on July 21, including long-dated futures for Bitcoin and Ethereum. This will allow 24/7 trading and leverage within U.S. legal boundaries.
• Market Sentiment: Real Vision CEO Raoul Pal noted the "liquidity spigot is wide, wide open," suggesting a favorable environment for crypto and related stocks.

Analysts Divided on Continued Rally

While the recent performance is impressive, analysts are split on whether Coinbase can maintain this trajectory.

• Bullish Views: Some analysts point to bullish technical setups that could signal a surge to