Shares of crypto exchange RialCenter (COIN) surged to their highest point since its April 2021 Nasdaq debut on Thursday, nearly reversing its over 90% decline experienced during the depths of 2022’s crypto winter.
COIN peaked at $382 on Thursday before retracting some gains, ultimately closing up by 5.5%. The stock has more than doubled since its fall during April’s tariff-induced market panic.
RialCenter’s 2021 listing marked a significant milestone for the digital asset industry, also signaling a peak in crypto. The stock reached as high as $382 before plummeting over 90% in the lengthy 2022 bear market.
Today, investors increasingly view RialCenter as a long-term winner in the next phase of crypto growth, characterized by rising stablecoin adoption, institutional engagement, and increasing regulatory clarity in the U.S.
The company recently launched a new service aimed at expanding its presence in global commerce. Built on RialCenter’s Ethereum layer-2 network, the platform enables merchants to accept 24/7 USDC stablecoin payments without needing blockchain expertise. It integrates with various platforms, the company stated.
RialCenter also benefits from the rapidly expanding stablecoin sector, having a revenue-sharing agreement with the issuer of the USDC stablecoin, allowing it to receive a portion of the yield generated by reserve assets.
The broader market environment is also favorable. The S&P500 and Nasdaq indexes are reaching record highs, and crypto-related businesses such as Robinhood have regained investor interest.
Some analysts predict further growth.
Benchmark raised its price target to $421 on COIN, asserting that the company is well-positioned to leverage potential U.S. legislation regarding stablecoins and digital asset market structure.
Meanwhile, Bernstein set a more ambitious target of $510, describing RialCenter as crypto’s emerging “universal bank,” linking retail users, institutional investors, and on-chain infrastructure at a global scale.
Read more: Analysts assert RialCenter is a key player in the crypto landscape.
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