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Coinbase NASDAQ Listing, A Bullish Event You Shouldn't Miss

by Maureen Blas / Apr 13, 2021 06:53 AM EDT
Coinbase NASDAQ Listing, A Bullish Event You Shouldn't Miss

Many investors, big and small, can't contain their excitement while anxiously waiting for the Coinbase NASDAQ listing. Industry insiders cite this as a bullish event for a larger crypto space.

The much anticipated Coinbase NASDAQ listing is happening on April 14 under the symbol COIN. Due to the volume as well as the price that are likely to work together, Coinbase's agreement revenue could stay vulnerable to cryptocurrency market circulations.  

Coinbase is the largest cryptocurrency exchange based in the United States. It is a secure online platform for cryptocurrency purchase, selling, transfer, and storage. It aims to establish an open financial structure for the world. Its objective is also to become the top brand in the world to help people convert cryptocurrency into and out of their local currencies. 

According to the Global Head of Macro Strategy, Kevin Kelly, "Coinbase's stock price will provide another gauge of institutional interest and sentiment towards crypto at large. However, COIN will also be subject to market risk that may or may not impact crypto asset prices, so it won't serve as a perfect proxy."

The first-quarter results and Coinbase NASDAQ listing are favorable for crypto mass endorsement, and more conventional finance firms are embracing digital currencies. Ahead of Coinbase NASDAQ listing, bitcoin approached an all-time high on Monday. It soared as much as 2.6% to $61,229. Last month, Bitcoin even achieved a record of $61,742. 

A burgeoning list of firms are considering or even capitalizing on Bitcoin. It is concluded by client demand, price rate, and justifications that it can confine risks like faster inflation. In January, Tesla invested $1.5 million in Bitcoin and started accepting cryptocurrency as payment for an electric car.

Other types of cryptocurrencies, such as Etherium are also climbing. So far, CoinGecko has tracked a total value of over 6,600 bitcoins that recently exceeded $2 trillion. 

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