COIN recap: Comparing Coinbase’s first day to other major public listings
From price volatility to becoming the most valuable U.S. exchange, here is how well Coinbase’s first day of trading tracks with other companies. American crypto exchange giant Coinbase went public on Wednesday with a direct listing on Nasdaq.The company’s performance on day one has been hailed as being positive overall, with Coinbase becoming the most valuable exchange in the United States ahead of legacy players such as the Chicago Mercantile Exchange.Coinbase’s first day of trading was seen by market commentators as a watershed moment for the crypto space, but how does its performance....
Related News
Coinbase’s reference price of $250, received ahead of the Nasdaq direct listing, values a “thank you” gift to all 1,700 full-time employees at $25,000. Major U.S. exchange Coinbase’s COIN stock has received a reference price at $250 from Nasdaq, ahead of the much-anticipated direct listing on the stock exchange just hours from now.The price is far below the current FTX pre-trading price of $600, albeit on thin 24-hour volume of under $4 million.The exchange is going public via a direct listing instead of an IPO, meaning the reference price is not a direct indicator of the company’s market....
In the five days after launching on Coinbase, new token listings gain 91% on average. But that doesn’t tell the whole story. Crypto analytics provider Messari has compiled a report concluding that the fabled “Coinbase effect” — the popular belief that new token listings on Coinbase tend to outperform launches on other exchanges — is true.But the effect is far from consistent, and after controlling for outliers, it’s not as great as many assume.Messari analyzed the performance of 28 new Coinbase listings over five days against 22 Binance listings, 19 FTX listings, 19 Gemini listings, 14....
Major exchanges are elbowing for exposure to Coinbase's listing. Major global cryptocurrency exchanges including Binance and FTX have announced the listing of Coinbase’s stock token ahead of its direct listing on Nasdaq.According to a Wednesday announcement, Binance will list Coinbase's stock token (COIN) today, allowing its users to trade fractional Coinbase stock on the Binance website.The new stock token will trade against Binance USD (BUSD), Binance’s stablecoin pegged to the United States dollar and issued by Paxos Trust Company.Binance said that Coinbase stock tokens are....
Welcome to the Bitcoin 2022 conference’s best day recap. Audiovisually, the Bitcoin Magazine staff stepped up its game. The livestream transmission was much more professional and tv-like than the Industry Day one. The stand-out performance was Coin Stories’ Natalie Brunell hosting the news desk, that woman knows what she’s doing. Over at the Nakamoto Stage, […]
COIN stock has surged after debuting on the Nasdaq exchange Wednesday. Shares of digital currency exchange Coinbase (COIN) opened at $381 Wednesday — significantly higher than its pre-listing reference price of $250 — underscoring heightened institutional demand for the crypto-focused stock. The $381 value put Coinbase’s market capitalization at $99.6 billion on a fully diluted basis. The stock peaked at $429.54 for a gain of 71.8% from the original reference price. It was last seen trading around $350, having gained 43%, according to Yahoo Finance data. It was a volatile first hour of....