Matching the new Bitcoin all-time high, crypto exchange Coinbase took to Wall Street today.
Coinbase currently has 56 million users and offers the ability to trade over 50 different cryptocurrencies. Eleven percent of the entire crypto market is transacted through Coinbase. As such, the platform is one of the biggest beneficiaries of the current bitcoin boom. Accordingly, the IPO was followed by many investors. The pre-determined reference price was $250. First prices were available shortly after 7 pm and they were significantly higher at $381. This corresponds to an increase of a good 52 percent. However, by the end of trading, the price had fallen to $328.
In the future, the development of Coinbase will strongly depend on the Bitcoin price development.
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