How Was Coinbase's First Day On Nasdaq? Has the COIN received the expected attention?

How Was Coinbase's First Day On Nasdaq? Has the COIN received the expected attention?

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Yesterday was a very important day for both Coinbase and cryptocurrencies, and the coin's first day on the Nasdaq seems to have gone well.

Coinbase performed a first of both yesterday. it also left behind an important milestone in the name of cryptocurrencies. Coinbase became the first cryptocurrency company to be listed on a U.S. stock exchange. Listed on Nasdaq under the name “COIN”, the company is actually a very important horse on behalf of the entire cryptocurrency ecosystem.

COIN chart

The reference price of the coin was set at $ 250, and the exchange opening was held at $ 381. The coin, which rose to $ 424 after opening, closed at $ 328, and as of the time of writing, the tables show a price of $ 338 for the COIN.

The company closed the day with a market value of $ 86 billion after exceeding $ 100 billion in the session.

According to the statements, although there were ups and downs, the first opening went quite well. “We'll have to see how this works and then see if this publicly traded stock is as volatile as the cryptocurrencies it trades in, " said Art Hogan, chief market strategist at National Securities."he used his words.

Looking at all these data, it seems that the first day for the COIN was very positive. We will also keep track of the movements of the coin in the coming days, which opened and closed above the reference price and rose to quite high levels from this price level during the day.

Why Is This Move Important?

Coinbase chose a direct listing path that did not allow it to raise new funds but offered existing shareholders, founders, employees and historic investors the opportunity to sell their shares in the market. Spotify, Slack, Palantir and Roblox have also used this method for Wall Street outlets.

“Coinbase is a fundamental part of the crypto ecosystem and, to us, is a barometer for the growing mainstream adoption of Bitcoin and crypto in the coming years, " said Daniel Ives of Wedbush Securities."he uses his words.

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