What Happened?
Shares of blockchain infrastructure company Coinbase (NASDAQ: COIN) jumped 3.6% in the morning session after it announced a strategic partnership with JPMorgan Chase to make cryptocurrency more accessible to the bank's customers.
The collaboration with JPMorgan Chase was set to introduce several features aimed at making cryptocurrency purchases more accessible. The partnership planned to allow a direct bank-to-wallet connection and let customers transfer Chase Ultimate Rewards points to their Coinbase accounts, with 100 points equaling $1.
Additionally, the agreement included provisions for customers to fund their Coinbase accounts using Chase credit cards, a feature expected to launch in the fall of 2025. This move was significant as it represented a major step in bridging traditional banking with the digital asset space, potentially opening up a large new customer base for Coinbase. The positive market reaction was also supported by recent bullish analyst sentiment, including a price target increase from Citigroup.
After the initial pop the shares cooled down to $380.19, up 2.3% from previous close.
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What Is The Market Telling Us
Coinbase’s shares are extremely volatile and have had 64 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 9 days ago when the stock gained 3.4% on the news that several Wall Street analysts raised their price targets on the stock, citing a more positive outlook for digital assets.
The bullish sentiment from Wall Street provided a significant boost, with Piper Sandler increasing its price target on Coinbase to $350 from $190 and Cantor Fitzgerald raising its target to $500 from $292. Analysts at Cantor Fitzgerald pointed to growth in stablecoin revenue and Coinbase's position as crucial infrastructure for the cryptocurrency market as reasons for their optimism. The move also comes amid broader strength in the crypto market, with Bitcoin trading above $118,500. Positive regulatory news contributed to the upbeat mood after President Trump signed the GENIUS Act, which establishes a U.S. framework for stablecoins—cryptocurrencies pegged to a stable asset like the U.S. dollar. This legislative clarity is seen as a positive step for the entire digital asset industry.
Coinbase is up 47.8% since the beginning of the year, but at $380.19 per share, it is still trading 9.4% below its 52-week high of $419.78 from July 2025. Investors who bought $1,000 worth of Coinbase’s shares at the IPO in April 2021 would now be looking at an investment worth $1,158.
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