Can Coinbase Stock Price Hit $500 as Argentina Expansion Fuels Growth?
The post Can Coinbase Stock Price Hit $500 as Argentina Expansion Fuels Growth? appeared on BitcoinEthereumNews.com.
During Tuesday’s U.S. market session, the Coinbase stock price projected low volatility and sustainability above the $275 level. A renewed demand pressure hits broader markets, with the S&P 500 index showing a 0.74% surge to hold above $6,000. With recent approval for providing crypto service in Argentina, COIN price could rebound quickly to reclaim lost ground. Key Highlights: The formation of a flag pattern, which drives current consolidation in Coinbase Stock Price, The COIN price is 6% away from escaping the two-month-long correction trend. The COIN Sock holds above the exponential moving average (20, 50, 100, and 200), indicating bullish market sentiment. Coinbase Secures VASP License in Argentina In a major expansion move, Coinbase has officially launched operations in Argentina after receiving a Virtual Asset Service Provider (VASP) license from the country’s National Securities Commission. The regulatory approval enables Coinbase to provide trading and custody services within Argentina’s legal framework, trading a market of over 5 million daily crypto users. Research commissioned by Coinbase shows that 87% of Argentinians believe they can achieve greater financial independence, while 76% of users view it as a hedge against inflation and transaction costs. “Economic freedom is a cornerstone of prosperity, and we are proud to bring secure, transparent, and reliable crypto services to Argentina,” said Fabio Plein, Director for the Americas at Coinbase. This approval marks a significant milestone for Coinbase to spread its services across the globe. Coinbase Stock Price Nearing Major Breakout From Flag Pattern In the last two months, the Coinbase Stock price has witnessed a notable correction from $350 to $282, accounting for a 19% loss. The downfall recorded a fresh lower high formation last weekend as the Chinese AI advancement ‘Deepseek’ triggered a sell-off in the U.S. market. The daily chart analysis shows the falling price is resonating…
Filed under: News - @ January 28, 2025 9:15 pm