The prices of cryptocurrencies rose to records on Wednesday as the listing of the exchange Coinbase Global Inc. sparked interest in digital assets.
Bitcoin climbed to a record $ 64,829 apiece, ether traded up to $ 2,398 and dogecoin – the meme cryptocurrency created as a joke – rose by more than 40%, by almost 13 cents, according to CoinDesk. The rally in dogecoin took place despite the fact that Coinbase does not trade in it.
Shares of Coinbase traded on the Nasdaq Global Select Market on Wednesday via a direct listing under the symbol COIN. Shares rose from $ 381 in the first few minutes to $ 429.54 before retreating and hovering around $ 370.
The listing once again drew attention to cryptocurrencies and attracted new retailers. It has not only benefited the most tradable cryptocurrencies, such as bitcoin and ether, but also smaller and cheaper currencies.
“Everything goes together,” said Joel Kruger, a strategist at LMAX Digital. ‘We have a combination of global macro forces that increase the risk higher. We also turn a lot on the Coinbase news and it gives the crypto market an extra boost and extra exposure. ‘