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Why Shares of Coinbase Are Rising Today

Why Shares of Coinbase Are Rising Today

After trading with lots of volatility this week, shares of the large U.S. cryptocurrency exchange Coinbase (NASDAQ: COIN) had risen nearly 9.5% as of 2:23 p.m. ET today for no obvious reason, although there are a few things that could be driving the move. Coinbase has struggled recently as crypto trading volume, a big driver of revenue on the platform, has slowed this year among a broader decline in crypto prices. Trading at less than $68 per share, Coinbase is down more than 80% from when it went public a little more than a year ago.