CRCL Vs COIN: Which Crypto Stock Is The Better Bet Amid Rising Bitcoin Prices?

Circle is primarily a bet on USDC adoption and stablecoin infrastructure, while Coinbase has much more exposure to crypto trading activity through its centralized exchange.

• On Tuesday, Circle announced that Binance has made a $100 million equity investment in the company.
• Coinbase announced Monday that eligible U.S. retail customers will soon be able to participate in IPOs directly through its app, with the service debuting this week with smart-ring maker Oura. 
• According to data from Koyfin, the 12-month average price target on CRCL stock implies upside potential of more than 10% from its last close, while analysts expect about 1% upside on COIN stock over 12 months. 

A recent rally in Bitcoin (BTC) prices has brought market focus back on cryptocurrency stocks as multiple catalysts have impacted the industry in recent weeks. 

Circle Internet Group (CRCL) and Coinbase Inc. (COIN) are two crypto-infrastructure companies, although they have different exposures. 

Circle is primarily a bet on USDC adoption and stablecoin infrastructure, while Coinbase has much more exposure to crypto trading activity through its centralized exchange. 

Rise In Bitcoin Prices

Bitcoin’s latest rally is likely driven by a combination of short covering and liquidations, improving macro conditions as oil prices and Treasury yields eased, and technical momentum after breaking above key moving averages, which has encouraged further buying and higher trading volumes across spot and derivatives markets.