Coinbase (COIN) Stock Gains as Bitcoin Surges and UK Crypto Lending Goes Live

TLDR

  • Bitcoin surged to $93,259, marking an 11-week peak, driving gains across cryptocurrency-related equities in Wednesday’s premarket session.
  • Coinbase (COIN) advanced 1.8% premarket, while Robinhood (HOOD) climbed 1.6% and Strategy (MSTR) jumped 2.2%.
  • Extended cease-fire between the U.S. and Iran under Trump administration fueled risk-on sentiment, with Bitcoin identified as the primary catalyst.
  • Piper Sandler boosted COIN’s price target from $150 to $180 while keeping its Neutral rating intact.
  • Coinbase debuted crypto collateral lending in the UK via Morpho DeFi protocol after generating $2.17 billion in U.S. loans since January 2025.

Coinbase unveiled crypto collateral lending services for UK users on Wednesday, leveraging the Morpho DeFi protocol for backend operations, as COIN shares advanced during premarket hours amid a widespread cryptocurrency rally fueled by reduced U.S.-Iran geopolitical tensions.

Bitcoin reached $93,259 over the past 24 hours — its highest level in 11 weeks — per CoinDesk data. The cryptocurrency’s surge propelled related equities upward before market opening.

COIN shares climbed 1.8% in premarket activity. Robinhood (HOOD) added 1.6%, while Strategy (MSTR), the top corporate Bitcoin accumulator, jumped 2.2%.


COIN Stock Card
Coinbase Global, Inc., COIN

Nexo analyst Iliya Kalchev explained to Barron’s that the rally was “all down to Bitcoin.” He noted that “savvy traders looking for alternatives to digital assets landed on crypto stocks.”

President Trump’s extension of the U.S.-Iran cease-fire served as the macroeconomic catalyst. The temporary halt in hostilities diminished risk-averse positioning and encouraged capital flows into higher-volatility assets.

Piper Sandler Raises Price Forecast

On April 15, Piper Sandler elevated its price forecast on COIN from $150 to $180 while maintaining its Neutral stance. The firm anticipates positive commentary from management regarding trading volumes approaching Q1 results, especially within futures markets.

Piper observed that persistent geopolitical uncertainties could help balance more challenging year-over-year comparisons anticipated in Q2.

Earlier in April, Citizens reduced its COIN target from $400 to $355 while retaining its Outperform designation. The firm highlighted mixed capital markets conditions while identifying institutional trading as the “clearest bright spot” for the quarter.

Citizens suggested that market participants may be overlooking medium-term policy and operational catalysts in favor of short-term volatility.

UK Lending Product Rollout

On the product development side, Coinbase activated crypto collateral lending for UK clients. Customers can now obtain USDC loans backed by Bitcoin and Ethereum positions directly via Coinbase’s platform.

The underlying infrastructure operates through Morpho, a decentralized finance lending protocol built on the Base network. Customer collateral transfers into a Morpho smart contract; USDC distribution occurs from the protocol. Coinbase provides the user interface — Morpho manages the lending operations.

This framework ensures Coinbase avoids balance sheet exposure. Interest rates adjust algorithmically according to live supply and demand dynamics, without fixed repayment timelines.

The UK deployment represents the first overseas expansion of a service that debuted domestically in January 2025. U.S. loan originations via the Coinbase-Morpho integration have surpassed $2.17 billion.

The lending offering forms part of an extensive initiative to construct a consumer financial services ecosystem in the UK, following Coinbase’s FCA authorization and recent introductions of savings instruments and decentralized exchange trading capabilities.

MarketVector Indexes additionally introduced the Coinbase Store of Value Index earlier this month, developed in collaboration with Coinbase Asset Management. The index blends Bitcoin and gold within a systematic, volatility-adjusted methodology.

Citizens observed that the company’s $2.17 billion in U.S. loan generation confirms the product as a substantial revenue stream — beyond experimental phase — now expanding internationally.

The post Coinbase (COIN) Stock Gains as Bitcoin Surges and UK Crypto Lending Goes Live appeared first on Blockonomi.

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