Cryptocurrency exchange Coinbase successfully landed on Nasdaq

Coinbase, the largest cryptocurrency exchange in the United States, successfully landed on the Nasdaq Global Select Market yesterday, and the Coinbase issuance reference price was $250.

The listing of this exchange on Nasdaq is a landmark event for the chain because it is also the first cryptocurrency exchange to land on the U.S. stock market.

The current bull market in the cryptocurrency market is indeed a good time to go public at this time. After all, its stock price may be related to the rise and fall of Bitcoin in the future.

“The Coinbase team at their stand.” by CoinDesk is licensed under CC BY-NC-ND 2.0

Unlike traditional listed companies, this cryptocurrency exchange did not choose to issue shares through traditional underwriters, thus saving a lot of handling fees.

At the same time, the exchange did not even draft a specific issuance price, until last night Coinbase revealed that the issuance reference price is $250, which can be freely traded.

However, after the opening, its stock price soared to $416, an increase of 70%. After the opening, the stock price gradually fell back to US$328.28 at the close of the market, a 31% increase on the first day.

For the chain circle, the exchange’s listing is of great significance, although this does not mean that the United States accepts cryptocurrencies, at least it will not oppose cryptocurrency exchanges.

The surge in stock prices also means that investors are indeed optimistic about cryptocurrency exchanges, and cryptocurrency-related industries have begun to enter the eyes of traditional financial institutions on Wall Street.

Via: CNBC