Why did Coinbase shares rise sharply in after-hours trading?

I'm intrigued by the significant surge in Coinbase's share price in after-hours trading. Could you elaborate on the potential factors that might have contributed to this sudden rise? Were there any significant announcements or developments that sparked investor interest? Did Coinbase release any positive earnings reports or updates on its business operations? Or is this simply a reflection of the overall bullish sentiment in the crypto market? I'd appreciate a comprehensive analysis of the key drivers behind this price movement.