The first coinbase on the cryptocurrency exchange officially opened on NASDAQ on Wednesday (13857.8403, -138.26, -0.99% (13857.8403, -138.26, -0.99%) was listed. The stock code “coin” was opened for about 52% on the first day of listing, and the opening price was $381, which once reached 70%. The market value exceeded $100billion, reaching US $112billion at one time. However, the stock price went down all the way, falling below the opening price. As of the closing, the stock price rose 31.31%, with a market value of over $64.5 billion.
The reversal was related to Fed chairman Powell’s speech. When coinbase was listed, Powell called cryptocurrency “speculative.”. He said that cryptocurrency is mainly to bet on price rise and has not yet reached the status of payment mechanism. After Powell’s speech, coinbase significantly narrowed its gains.
It is also reported that Cathy wood’s Ark investment company, known as “woman Buffett”, bought nearly $250million worth of shares on the first day of the coinbase listing.
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Reprint indicated source：Spark Global Limited information