As bitcoin rises, so do other cryptocurrencies, including Coinbase.

In less than two weeks, the exchange’s shares have soared about 56 percent, surpassing $83 a share, the highest level in six months.

Coinbase’s recent resurgence reflects a broader rally in the cryptocurrency market. On Sunday, bitcoin surpassed the $28,000 mark for the first time since June 2022, as investors rushed into the digital asset amid fears of a banking crisis. Other cryptocurrencies are also rising, including Ether, the second-largest cryptocurrency by market capitalization and the native Ethereum blockchain token, which rose 20% in less than two weeks.

The rising share price is welcome news after a rough year for Coinbase, which reported fourth-quarter earnings that included a net loss of $2.6 billion for 2022. Amid a prolonged crypto-winter, the cryptocurrency exchange reported a 50 percent drop in total trading volume compared to 2021.

In addition, Coinbase, like the entire cryptocurrency landscape, has faced the sudden disappearance of Silvergate and Signature, which were once the most popular banks in the industry.

But the recent resurgence in cryptocurrency prices and Coinbase shares gives enthusiasts hope that the cold of cryptozyma will soon subside.