Coinbase’s Nasdaq debut powers retail crypto trading frenzy
On April 1, crypto exchange Coinbase announced that its Class A common stock would begin trading on Nasdaq Global Select Market under the ticker symbol “COIN” on April 14.
However, data from CryptoCompare suggests that the pre-listing rally in the crypto markets did not really start until one week before the listing date. On April 7, Bitcoin and Ether were trading as low as $55,467 and $1,931 respectively.
The rally that started on April 7 took Bitcoin to a new all-time high of $64,859 on April 14.
Another heavily-traded coin that managed to set a new all-time high on this day was XRP, which was helped by the Wanchain team announcing on April 12 that now “XRP token holders can put their XRP to work and engage with the world’s many DeFi applications”.