Coinbase IPO Holders Rejoice: 4-Year Wait for Profits Ends as Crypto Giant Roars Back

Wall Street skeptics eat crow as Coinbase shares finally claw past their 2021 debut price—proving even crypto's 'blue chips' demand diamond hands.

How the tide turned: After languishing 80% below its IPO price during the crypto winter, America's exchange giant rode Bitcoin's resurgence to pay off patient believers. Now trading above its $250 reference price, COIN delivers a masterclass in hodling.

The comeback kids: Retail traders who bought the 2021 hype and held through FTX's collapse get last laugh. Meanwhile, hedge funds that shorted crypto's 'regulated play' got steamrolled by spot ETF inflows and institutional FOMO.

Cold comfort for bagholders? Maybe. But today's gains can't erase those margin calls from 2022—or the fact that Treasury bonds outperformed crypto equities for three straight years.

Crypto News of the Day: Coinbase IPO Investors in the Green for the First Time Since 2021

The Coinbase exchange went public in 2021, when its COIN stock made its landmark debut on the public markets in one of the biggest IPOs (Initial Public Offerings).

Following the $28 billion Coinbase IPO, COIN stock established a local top of $429.54 in April 2021, before dropping to a low of $31.55 in January 2023. This constituted a 92.6% drop in just over a year, with investors watching the clock until they could break even.

After waiting more than four years, the long-suffering Coinbase IPO investors are finally back in the green. On July 18, COIN price ascended to an all-time high (ATH) of $444.65, before a quick correction. As of this writing, the Coinbase stock traded for $428.75 pre-market.

Congrats to Coinbase $COIN IPO InvestorsYou are now in the green after more than 4 yearspic.twitter.com/yEp5KEpyVS

With this, it is just shy of the IPO price. As of this writing, its new ATH marks a symbolic turning point for the company’s earliest backers. The recovery reflects broader Optimism surrounding crypto markets in 2025.

The peak aligned with a successful Crypto Week, which passed the GENIUS and CLARITY Acts.

“I gambled $1,500 on the Coinbase IPO 4 years ago. Today I am above water,” one investor quipped.

The return to profitability for Coinbase IPO holders comes as COIN continues to rally on growing investor confidence. On-chain analysts such as Ali Martinez are now setting ambitious new targets for the stock.

“Coinbase COIN could become one of the top-performing crypto stocks as it targets $950 to $1,550,” Martinez posted on July 20.

Notably, beyond Coinbase’s COIN, most crypto stocks are doing well, including Robinhood’s HOOD.

Robinhood $HOOD going parabolic here.. 10 of the last 11 weeks have been greenpic.twitter.com/yRMZh2YNyh

Analysts ascribe the broader market surge to improved sentiment toward risk-on assets.

Macro Tailwinds, Earnings Pressure, and Trade Tensions Set the Stage for Crypto Stocks

A supportive macro backdrop also fuels the bullishness. The European Central Bank is widely expected to cut interest rates this week amid falling inflation expectations and tighter European lending conditions.

In the latest Survey on the Access to Finance of Enterprises (SAFE), firms reported lower interest rates on bank loans and slightly tighter lending conditions in the second quarter of 2025. Expectations for selling prices, wages and one-year-ahead inflation declined.

The MOVE could pressure the US Federal Reserve (Fed) to adopt a more dovish tone. In the ECB’s latest SAFE survey, euro area firms reported lower bank loan rates and softer price expectations for the year ahead, adding to the easing narrative.

At the same time, US equity markets are bracing for a wave of critical earnings reports, including Tesla’s on July 23 and Coinbase’s Q2 results scheduled for July 31.

With COIN up over 100% year-to-date, the earnings call could be a decisive moment for the current rally.

“…Coinbase will report quarterly earnings. They will absolutely SMASH expectations. COIN continues to hunt acquisition targets. $450/share seems inevitable. COIN was trading at $175 90 days ago. Everyone has been focused on MSTR but COIN is the story,” wrote Andrew, a popular user on X.

Further, EU diplomats told Bloomberg this week that Europe is exploring a broader set of potential countermeasures against US tariffs. Reportedly, talks are faltering ahead of the August 1 deadline.

While the EU says it still prefers a negotiated solution, rising trade tensions may influence central bank policy decisions on both sides of the Atlantic.

Still, the recent price surge feels vindicating for Coinbase investors who weathered multiple crypto winters, regulatory lawsuits, and brutal selloffs.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Ethereum propels crypto inflows to record $4.39 billion weekly high.
• Bitcoin price stuck under $120,000 as BTC profit hit a 7-month high.
• Ethereum Unveils symbolic NFT Torch ahead of 10th anniversary.
• Ethereum (ETH) price is always high, as a key ratio indicates a 40% rally.
• Analysts are eyeing more gains as MANTRA (OM) breaks the 3-month slump with a 46% price pump.
• 3 US economic signals that could move Bitcoin this week.
• Mystery whale hoards 331 million Pi Coins, sparks listing speculation.
• XRP eyes new all-time high as whale selling intent drops 94%.
• High-risk trader James Wynn bags first half-million profit since May

Crypto Equities Pre-Market Overview