$Coinbase(COIN.US)Coinbase Global, Inc. (stock code: COIN) is one of the major cryptocurrency exchanges in the United States. It is listed on NASDAQ and became the first large-scale cryptocurrency trading platform to go public in the U.S. Here is some analysis of Coinbase's performance in the U.S. stock market:

1. **Market Positioning**: As a compliant representative of cryptocurrency trading, Coinbase has obtained legal operating licenses in the U.S. and other countries, providing it with a stable market position and trust.

2. **Regulatory Compliance**: Coinbase places high importance on compliance, holding money transmitter licenses in all 50 U.S. states and New York's BitLicense, which grants it legitimacy and credibility in the financial services sector.

3. **Financial Performance**: According to search results, Coinbase achieved significant financial growth in Q1 2021, with revenue reaching $1.8 billion and net profit nearing $800 million, indicating a full-scale performance breakout during the bull market.

4. **Market Cap & Stock Price**: Coinbase's reference price on its first day of listing was $250 per share, with a valuation of approximately $65.3 billion. However, its market cap and stock price fluctuate with market sentiment, company performance, macroeconomic conditions, and changes in the cryptocurrency market.

5. **Revenue Sources**: Coinbase's revenue primarily comes from trading BTC (Bitcoin) and ETH (Ethereum), so its financial performance is closely tied to the prices of these two cryptocurrencies.

6. **Market Risks**: Despite Coinbase's heavy investment in compliance, its business model exposes it to risks from cryptocurrency market volatility and potential impacts from regulatory policy changes.

7. **Growth Strategy**: Coinbase's long-term plan includes building an open financial system, and it spares no expense in obtaining regulatory licenses, indicating its intention for long-term development and business expansion.

8. **Investor Sentiment**: Coinbase's stock may be influenced by investor sentiment, especially during periods of high volatility in the cryptocurrency market, when interest in Coinbase shares may fluctuate accordingly.