Coinbase

Jumped 11 % After Nasdaq Debut!

  Coinbase Jumped 11 % After Nasdaq Debut!   Coinbase Global Inc went public on Nasdaq with a high profile valued at more than $ 100 billion for a short time. Shares of the crypto flagship rose 11 % in early trading Thursday a day after this incident. The initial debut via direct listing, with no shares sold prior to the opening, marked the turning point for Bitcoin and other digital assets. Thus, there has been an increase in the value of mainstream cryptocurrencies. Cathie Wood's Ark funds bought $ 246 million worth of shares in Coinbase on Wednesday, while one of its funds sold $ 4,4 million in Intercontinental Exchange (NYSE: ICE), the owner of the New York Stock Exchange. "This reinforces the idea that you can invest in companies doing business in the cryptocurrency market," said İpek Özkardeşkaya, senior analyst at Swissquote Bank.

Coinbase Global Inc went public on Nasdaq with a high profile valued at more than $ 100 billion for a short time.

Founded in 2012 by Brian Armstrong and Fred Ehrsam, San Francisco-based Coinbase has 56 million users worldwide and an estimated $ 223 billion in assets on its platform. Crypto assets account for 11,3 % of Coinbase's market share. Coinbase's valuation, which was just under $ 6 billion in September, has increased with Bitcoin's gains this year. However, the world's largest cryptocurrency fell about 0,9 % on Thursday after hitting a record $ 64,895.22 the other day. At 6:42 PM ET, Coinbase shares rose 9.4 %  to $ 358.61, valuing the cryptocurrency exchange more than Nasdaq Inc and Intercontinental Exchange.  

Source: investing.com

 

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