In 2023, the cryptocurrency market's value surged from about $800 billion at the start of the year to more than $1.6 trillion at the end. After a terrible 2022, investors appear to be much more optimistic about digital assets.

Coinbase Global (NASDAQ: COIN) rode this wave of enthusiasm to new heights. The cryptocurrency stock soared 391% in 2023, a gain that trounced the Nasdaq Composite Index, although it has fallen 26% this year (as of Jan. 22).

But is Coinbase a magnificent crypto stock that investors should consider buying right now? Let's take a closer look.

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Source Fool.com