Coinbase's IPO Fluctuated The Cryptocurrency Market

Coinbase, the cryptocurrency exchange, which affects the risk appetite in the global markets, turned the markets upside down after the public offering.

Coinbase's IPO fluctuated the cryptocurrency market. With the public offering of Coinbase, which also affects the risk appetite in global markets, a volatile atmosphere prevailed in the cryptocurrency market. Coinbase, the largest cryptocurrency exchange in the USA, started its first trading day with a rapid gain, while the exchange's opening price fell 14 percent below, causing cryptocurrencies to lose value. Coinbase started its first transactions at $ 381 per share, climbing to $ 429 in the first 10 minutes of trading. However, the company's shares closed the day at $ 328.28, down 14 percent. Bitcoin, which closed the day from 62,384 with a loss of 1.28 percent with the effect of the sale on Coinbase, experienced a limited rise in the first transactions of the new day. As of the closing price, the valuation of Coinbase was recorded at approximately $ 86 billion. Coinbase's public offering was very important for the inclusion of cryptocurrencies in the mainstream investment arena. The cryptocurrency industry has grown to $ 2 trillion in less than 10 years. Bitcoin alone has grown to more than 1 trillion after gaining 800 percent in value last year.