Here is why Coinbase Global Inc (COIN) stock set the new records

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SONX Stock
SONX Stock

Coinbase Global Inc (COIN) stock surged significantly, breaking all the records on 14 April 2021. The COIN shares gained 31.31% to close Wednesday’s session at $328.28.

Let’s have a look at the recent development


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Coinbase public debut

On 14 April 2021, Coinbase did its public debut and was listed on the Nasdaq, setting a milestone for virtual currencies.

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The company had been valued at $68 billion this year by private market transactions which made it the biggest listing of a cryptocurrency company.

One day ago, on Tuesday, it was indicated that the company’s stock will have a reference price of $250 per share but it went up to $381 per share, up 44% from a reference price on Wednesday.COIN stock opened at $381, reached $429.54, and then dropped. Shares closed at $328.28, up to $78.28.

Bitcoin price also went up after COIN listing, making a record of trading above $62000.

Conclusion

The Coinbase debut on Nasdaq is the most important step for cryptocurrencies which results in taking Bitcoin price to new heights. We can see both, Bitcoin and Coinbase stock reaching new heights.

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About the company:

Coinbase Global, Inc., known as Coinbase, is an American company that operates a cryptocurrency exchange platform that operates remote-first without an official physical headquarters.

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