Coinbase's Market Cap Is Too Huge for Competitors to Ignore It Any Longer
Yes, COIN is only one company, one stock, but it's a mountain of emotion right now.
The headlines are going to be all about the Coinbase (COIN) craze tonight, tomorrow, and through the weekend. There's no doubt it is an incredibly impressive opening. The stock jumped above $400 only minutes after it began trading. Where it ends the week is anyone's guess, but the early strength and enormous valuation give crypto supporters a lot of firepower. Crypto critics will no doubt discuss the possible disconnect from reality. I actually think both exist.