Coinbase’s COIN Stock Trading Is Off To A Rocky Start

Coinbase’s COIN stock is facing a bit of volatility; how fitting for a company of their nature. Nothing to fear, though as I’m sure they’ll fare more than well.

Coinbase’s COIN stock trading on Nasdaq is off to a rocky start

COIN began trading significantly higher than the $250 reference stock price assigned by Nasdaq prior to the market open, rising quickly to around $430. The price fell sharply within the first few minutes of trading however, and sits at $381 at time of publication.

Even so, COIN is up about 55%, putting the U.S. crypto exchange giant’s valuation at just under $100 billion.

Enthusiasm for COIN exposure is also evident among crypto traders judging from the preliminary volume figures from Binance and FTX.

Both crypto exchanges are offering users access to Coinbase stock traded against stablecoins. Pre-IPO tokenized stock price for Coinbase on FTX has crashed from $643 down to $410 at time of publication.

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Master Asked on April 14, 2021 in Bitcoin.
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