Coinbase Stock Hits Four-Month High Amid Crypto Rally

Coinbase (COIN) stock reached a four-month high on Monday amid a broader cryptocurrency rally, with the exchange also announcing plans to give eligible U.S. retail traders access to IPO allocations through its app.

The Brian Armstrong-led crypto exchange said in a blog post that its IPO-access service will launch with smart-ring maker Oura's offering this week. Eligible customers will be able to request shares at the IPO offer price.

Oura is seeking to sell 50 million shares at $40 to $44 apiece, targeting a valuation of roughly $15.6 billion at the top of the range.