We recently published These 10 Stocks are Stealing the Spotlight. Coinbase Global, Inc. (NASDAQ:COIN) is one of the stocks that soared higher on Tuesday.
Coinbase Global grew its share prices by 12.10 percent on Tuesday to close at $344.82 apiece, on continued investor confidence amid a flurry of positive developments including the passage of the Stablecoin bill and plans to incorporate stock trading into its operations.
Last week, Coinbase Global, Inc. (NASDAQ:COIN) sought the approval of the Securities and Exchange Commission to allow stock trading through its blockchain technology. If approved, it would directly compete with Robinhood Markets Inc. (NASDAQ:HOOD) and Charles Schwab Corp. (NYSE:SCHW) in offering stock trading services.
A shot of someone securely accepting crypto assets as payment, showcasing the company’s payment solutions.
According to Coinbase Global, Inc. (NASDAQ:COIN), the new initiative will be “a huge priority,” enabling it to diversify beyond cryptocurrencies.
Tokenizing equities is a process in which shares of a company are converted into a digital token, similar to how cryptocurrencies are traded. Instead of holding the securities directly, investors hold tokens that represent ownership of the securities.
Meanwhile, senators have officially approved the GENIUS Act bill, which seeks to establish a regulatory framework for the use of Stablecoin. If passed into law, the bill would push the wider use of cryptocurrency in the markets and would directly compete with traditional payment providers.
While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
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