Current market data shows that the Coinbase stock price increased remarkably following news that the U.S.-based exchange had agreed to acquire Deribit for $2.9 billion. Analysts say the deal could change the global crypto market and put the trading platform back on track for a future valuation of $1 trillion.
Coinbase Stock Price Rallies After Deribit News
Following the official announcement, Coinbase stock ‘COIN’ jumped by 7.3%, trading at $207.25. The increase comes after a week of steady gains, with shares up 5% the day before the deal was confirmed.
Notably, the performance of the Coinbase stock over the paThe Deribit deal is possibly a major trigger for the exchangest week had set the pace for the massive daily spike. In the trailing month, COIN had jumped 37.68% in the past month.
Market watchers say the Deribit acquisition is the biggest in the industry’s history and could be a turning point for Coinbase, which already holds a strong lead in the U.S. market. The purchase includes $700 million in cash and 11 million Coinbase Class A common stock shares.
Deribit, based in Dubai, is the world’s largest crypto options and futures platform. Last year, it processed over $1.2 trillion in trading volume and holds around $30 billion in open interest. By bringing Deribit under its brand, Coinbase is expected to boost its reach into the global derivatives space, adding new momentum to its recent growth.
Coinbase Valuation Breakout In View
In addition to the Coinbase stock price surge, financial experts believe the move will open up major revenue streams.
Some, like Bitwise CIO, Matt Hougan said on X that Coinbase could see long-term valuation levels reach as high as $1 trillion, citing strong demand for crypto options and the potential to mirror the growth of equity options in the 1990s.
Executives at both companies have praised the deal. Deribit’s Luuk Strijers called it a way to give traders access to multiple markets under one trusted name.
Coinbase said the merger fits into its larger global expansion strategy. According to the officials, they combine their U.S. regulatory strength with Deribit’s international reach. The deal, however, still needs regulatory approval before it can be completed.
The Big Crypto M&A Acquisition Deals
It is worth noting that the crypto exchange, Coinbase stock price surge is a sign of investor approval of the Deribit deal. This ultimately shows the industry’s growing wave of crypto mergers and acquisitions.
As announced earlier in the year, Kraken also acquired NinjaTrader for $1.5 billion after a series of regulatory wins.
Meanwhile, blockchain payments firm Ripple Labs is nearing the completion of its acquisition of brokerage firm Hidden Road. As reported earlier, the company announced the takeover worth $1.25 billion, marking one of the largest deals in the crypto industry.
As the race for dominance in crypto trading heats up, many market participants believe more consolidation is ahead.
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