The price of the world’s most popular cryptocurrency has risen to new highs on Wednesday as investors await the first listing of a digital exchange on Wall Street.
Bitcoin BTCUSD,
reached Tuesday’s new record high of more than $ 63,000 and reached $ 64,368, a gain of 6% over the past 24 hours. And the profits were not just reserved for bitcoin, as ether ETHEUR,
on the Ethereum network, rose about 10% in the same period, reaching a new high of nearly $ 2,370 early Wednesday. XRP XRPUSD,
linked to Ripple jumped 33% in 24 hours and last traded at a new high of $ 1.95.
On Wednesday, Coinbase will start trading on the Nasdaq under the symbol “COIN” as a direct listing. which means that it does not raise any capital like a traditional stock exchange. The digital platform received a reference price of $ 250 per share late Tuesday night, valuing it at about $ 67 billion.
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The reference price does not determine where the stock will open, but investors’ enthusiasm has grown and according to analysts, this is reflected in the recent rising prices of digital currencies. Trading on the exchange is mainly focused on bitcoin and Ether, the largest crypto-currency.
“The listing of Coinbase in the US is a big deal for many investors because it somehow gives a signal that US lawmakers are not going to ban bitcoin, and the crypto king is here to stay now. , “said Naeem Aslam, chief market analyst, at AvaTrade, in a note to clients. However, some have warned that the valuation of Coinbase may be too high.
Read: Coinbase IPO: everything you need to know about the ‘watershed moment’ in crypto