Coinbase Rises 3%, Bitmine Jumps 4%: Is the Crypto Rally Back?

Coinbase Global (NASDAQ:COIN | COIN Price Prediction) stock is up 3% in Monday morning trading, while Bitmine Immersion Technologies (NYSE:BMNR) stock is climbing roughly 4% to kick off the week of March 30. Both stocks are bouncing off recent lows, and the simultaneous move is drawing attention from crypto watchers wondering if the worst of this downturn is behind us.

The backdrop matters here. COIN shares had shed 28.74% year to date, closing Friday at $161.14, while BMNR shares had fallen 32.27% since the start of the year, last closing at $18.39. Today’s gains are a welcome change of direction, but they arrive after a brutal stretch for both names.

The central question for investors this morning is whether this a genuine turning point for crypto-related equities, or just a brief bounce after an extended decline. So, let’s look at what the data actually tells us.

Crypto Prices Stabilize, Lifting COIN Stock

The most immediate driver of today’s move appears to be stabilization in the underlying crypto markets. Bitcoin (CRYPTO:BTC) is up 2% over the past 24 hours, trading near $67,800, while Ethereum (CRYPTO:BTC) has gained 4%, bring it close to $2,070. Both moves represent a pause in what has been a steady grind lower.

Coinbase, as the largest U.S.-based cryptocurrency exchange, tends to move with overall crypto sentiment. COIN stock dropped 18.41% in just the past week heading into today, so even a modest recovery in Bitcoin and Ethereum trading activity can provide a meaningful lift to the stock.

The company generated $7.2 billion in full-year 2025 revenue and processed $5.2 trillion in total 2025 trading volume, up 156% year over year, demonstrating that its platform scales quickly when market conditions improve.

Composite sentiment data supports the cautious optimism. Coinbase carries a composite sentiment score of 66.36, rated bullish with medium confidence, and that score has risen 23.03 points over the past 30 days. That kind of trend shift is worth noting, even if it falls short of a strong conviction signal.

Bitmine’s ETH Treasury Strategy Stays in Focus

Bitmine’s story is more concentrated and more volatile. The company holds approximately 4.661 million ETH tokens, representing approximately 3.86% of the total Ethereum supply. That makes it a direct, high-leverage proxy on Ethereum’s price. When ETH moves, Bitmine can move more.

The company recently launched MAVAN, its proprietary institutional-grade Ethereum staking platform. Bitmine currently has approximately 3.14 million ETH staked, with projected annual staking rewards of nearly $300 million once fully operational.

That staking income converts a passive ETH holding into a cash-generating operation. Bitmine Immersion Technologies CEO Thomas Lee has argued that “history shows crypto prices stage V-shaped recoveries after a lingering and drawn out decline” and that the company expects this pattern to repeat.

That said, the risks are real. Bitmine carries over $4 billion in unrealized losses on its ETH holdings following the token’s decline from peak levels. Ethereum is down 30% year to date, and prediction markets currently assign only a 31.5% probability that ETH reaches $3,500 in 2026. Any recovery thesis will require patience and a tolerance for continued volatility.

Is the Rally Back? Here’s What to Watch

Today’s move fits a broader pattern of crypto-related stocks recovering alongside prior premarket rallies in names like Coinbase and Circle. Morningstar has described the broader U.S. market as trading at a 12% discount to fair value estimates, suggesting that a recovery in risk appetite could lift crypto equities alongside the broader market. Coinbase also retains a $2.3 billion share buyback authorization as of February 10, 2026, which provides a floor of sorts for the stock.

All in all, COIN and BMNR stocks are showing early signs of life on a Monday morning that crypto investors have been waiting for. One session is far too early to call a trend reversal. Investors will want to watch whether Bitcoin and Ethereum can hold their early gains through the session close, as that could determine whether today’s move in both stocks has any follow-through into the week ahead.