Coinbase, Circle, Robinhood Lead Crypto Stock Rally Amid Tech Upswing

Key Insights:

• Coinbase gains on EU license progress and new partnerships.
• Circle stock up 404% post-IPO on USDC growth.
• Robinhood nears record highs with 102% YTD gain.

Crypto stocks have taken off in recent days, with Coinbase, Circle and Robinhood among the big winners. Circle Internet Group (CRCL) stock, newly listed on the NYSE, surged 18% in one session and is now about 404% above its IPO price.

Coinbase Global (COIN) and Robinhood Markets (HOOD) have also posted strong gains, reflecting a broad crypto stock rally.

The moves come alongside a wider tech market upswing: Nasdaq futures were roughly +0.8% helping drive risk-on momentum into digital assets and related stocks.

Circle Internet Group (CRCL)

Circle’s stock has been a breakout leader. After listing at $22 in April, CRCL closed near $158 on June 16 – up about 18% on the day. That jump extended its post-IPO gain to roughly +404%.

Investors are crediting Circle’s rapid USDC adoption and cross-chain growth. The company just launched native USDC support on the XRP Ledger (XRPL), eliminating bridge fees for developers and institutions.

Meanwhile, Circle’s Cross-Chain Transfer Protocol (CCTP) hit a record $7.7 billion in stablecoin volume in May – an 83% month-over-month surge.

Circle also made headlines by turning down a reported $5 billion takeover offer from Ripple. CEO Jeremy Allaire has emphasized Circle’s independent growth, which helped fuel bullish sentiment.

Some analysts have set target prices near $300 for CRCL on the strength of these fundamentals. At roughly $158 today, Circle’s stock is trading at a level that reflects its new stablecoin milestones and expansion.

Coinbase Global (COIN)

Coinbase’s stock is also benefiting from industry tailwinds. COIN traded around $255.60 as of June 16, up +2.7% on the day.

The exchange reported a 76% year-over-year jump in revenue for Q1 2025, driven by higher trading volumes and new services.

Bolstering Coinbase’s outlook, the company announced partnerships with Stripe and Shopify to enable USDC payments on Shopify’s Base checkout.

This lets merchants accept crypto via Base without extra coding, settling in USDC or fiat behind the scenes. In parallel, Coinbase is reportedly close to securing a full EU crypto license via Luxembourg under the new MiCA rules, which would clear the way for broader European expansion.

Investors are cheering these developments. Rosenblatt Securities and other analysts maintain Buy ratings on COIN with price targets near $300.

On the chart, Coinbase is approaching technical resistance zones: a move past $265 and then $277 would signal further upside.

For now, the stock’s 2.7% gain on the day reflects growing optimism that Coinbase’s product pipeline and regulatory progress will translate into more revenue.

Robinhood Markets (HOOD) and Other Crypto Stocks

Robinhood’s stock continues to climb back to prior highs. HOOD is trading around $75.77 (June 16), up +102% year-to-date.

Technical indicators are broadly bullish: short-term moving averages are above the longer-term ones, signaling strong momentum. The stock is now testing a key hurdle at $77.80; a sustained break above that level could clear the way toward a fresh all-time high near $80.

Traders note critical support at $63.84 – this red line on the chart. If HOOD were to slip below $64, it might trigger a pullback, but as long as it holds, the uptrend remains intact.

Robinhood’s focus on cryptocurrencies and ETFs has helped drive interest in the stock. Its trailing price/earnings ratio was roughly 23 at year-end 2024, reflecting a more normalized valuation after earlier losses.

Recent gains have pushed the TTM P/E into the 40s according to financial data. With Robinhood now flirting with its old peaks, investors are watching to see if the bullish momentum can continue.

The broader tech/crypto rally has set the stage: as Nasdaq and Bitcoin move higher, crypto stocks are capitalizing on the momentum. Whether this rally can be sustained will depend on ongoing adoption and market breadth, but for now these leaders are at the forefront of a vibrant crypto equity market.