Coinbase Global, Inc. (COIN) has surged 82.7% year-to-date to close the last trading session at $64.67. The stock is trading above its 50-day and 200-day moving averages of $51.68 and $60.48, respectively. However, I think it might be wise to be skeptical about this rally because of the reasons explained throughout this article.
The fintech company provides end-to-end financial infrastructure and technology for the global crypto economy. The company offers financial accounts for retail crypto users, a liquid marketplace to institutions for crypto transactions, and technology and services for ecosystem partners.
