The Crypto Community Is Cheering Trump’s Election Victory, and So Are Crypto Stocks

This year, individuals and groups linked to crypto companies donated millions to Trump’s campaign, hoping that his presidency will bolster the fortunes of the crypto market. With his win, these companies are now cheering as their stock prices soar.

Coinbase (COIN) stock soared 26% on Wednesday after President-elect Donald Trump's crypto-friendly election victory.

Coinbase is the largest cryptocurrency exchange in the United States and was among the crypto companies hoping for a Trump presidency that would boost the crypto market. Following the confirmation of Trump's win, Coinbase CEO Brian Armstrong took to X to share data indicating that the upcoming Senate and House of Representatives will have more pro-crypto leaders than opponents.

Coinbase stock price today, November 10: $102.85 (+26.13%)

Coinbase (COIN) stock soared 26% on Wednesday after President-elect Donald Trump's crypto-friendly election victory. Following the confirmation of Trump's win, Coinbase CEO Brian Armstrong took to X to share data indicating that the upcoming Senate and House of Representatives will have more pro-crypto leaders than opponents.

Coinbase is the largest crypto exchange in the U.S. and was one of the crypto companies hoping for a Trump presidency that would boost the crypto market. Several individuals and groups linked to crypto companies donated millions to Trump's campaign.

Coinbase stock price today, November 10: $102.85 (+26.13%)Coinbase stock soared on Wednesday after Trump's election victory. Macroaxis

Coinbase CEO says Trump's win is 'good news for crypto'Coinbase CEO Armstrong said in a X post on Wednesday that Trump's win is “good news for crypto.” He shared data from the upcoming 118th Congress, which is set to convene in January 2025.

According to Armstrong, there will be 10 senators who are "pro-crypto" and seven senators who are "anti-crypto." In the House of Representatives, there will be 43 pro-crypto members and 19 who are against crypto. Overall, there will be more pro-crypto members in both chambers of Congress compared to those who are against crypto.

“This is a net gain of 10 pro-crypto senators and 24 pro-crypto representatives,” Armstrong said. “We have a #Bitcoin President and a pro-crypto Congress.”

Coinbase stock soared on Wednesday after Trump's election victory. MacroaxisArmstrong also shared a link to a spreadsheet that includes the names of senators and representatives who are either pro-crypto or anti-crypto. The spreadsheet was created by Armstrong and his team based on their analysis of each lawmaker's statements, voting record, and other relevant information.

Coinbase stock price todayCoinbase stock price today is $102.85, up $24.08 (26.13%) from the previous closing price. Coinbase stock opened today at $99.65. Intraday prices have ranged from a low of $95.25 to a high of $105.75 so far.

Coinbase stock price chart for the past 6 months. MacroaxisCoinbase stock has gained 32.13% over the past five trading days. Over the past six months, Coinbase stock has increased by 112.85%, rising from $48.1 to its current price.

Coinbase stock technical analysisMacroaxis technical analysis indicates a bullish trend for COIN stock with a price momentum of 1.08 and a relative strength index of 68.46, both suggesting a strong buying pressure. The MACD line is above the signal line and the price, indicating a bullish trend.

Coinbase stock price targetCoinbase stock price target is set by analysts at an average of $122.29, with a high estimate of $200 and a low estimate of $60. The price targets range from a decrease of 41.05% to an increase of 243.15% from the current stock price.

Coinbase stock newsCoinbase is set to report its third-quarter earnings on Thursday, November 11 before the market opens. Analysts expect earnings per share of $2.44 on revenue of $1.24 billion.

Coinbase stock soared on Wednesday after President-elect Donald Trump's crypto-friendly election victory. Following the confirmation of Trump's win, Coinbase CEO Brian Armstrong took to X to share data indicating that the upcoming Senate and House of Representatives will have more pro-crypto leaders than opponents. MacroaxisCoinbase CEO Armstrong took to X on Wednesday to share data on the upcoming 118th Congress. According to Armstrong, there will be 10 senators who are "pro-crypto" and seven senators who are "anti-crypto." In the House of Representatives, there will be 43 pro-crypto members and 19 who are against crypto.

Overall, there will be more pro-crypto members in both chambers of Congress compared to those