Coinbase Opens at $333

coinbase first day trading april 2021

Coinbase has began trading at $333, significantly lower than futures sugggestions of $620. About 4 and a half hours after the opening bell, Coinbase finally started trading at about 2PM New York time. It initially fell from $337, but moved up to $377 at the time of writing as pictured above. At what price it will settle remains to be seen with bitcoin falling to about $62,000 at the time of writing. It is generally unusual for any crypto stock to affect bitcoin’s spot price, while the reverse is somewhat common. In this case it might do so just because that is the current focus as the listing has been somewhat perhaps even overhyped. By crypto standards however this is in effect a 100% pre-mined coin controlled by probably around 10 VCs, debuting now at a valuation of about $100 billion. By comparison Binance, one of the biggest crypto exchange,…

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