Coinbase's share price has increased by over 9% in the past 24 hours, now trading above $278 per share, according to TradingView data.

The crypto exchange's prospects have advanced in sync with the broader cryptocurrency market, which has witnessed a rally of over 61% in its market capitalization since the beginning of the year. Notably, Coinbase shares have rallied by the same amount, in the same period, according to TradingView data.

Coinbase still has some way to go before hitting a new all-time high. The company's shares were at their highest when they hit $342.98 in November 2021.

Major indices slow down after posting record-high gains

Coinbase shares have rallied despite U.S. …