On the evening of April 14, Coinbase shares began trading on NASDAQ. After this placement, the Bitcoin rate fell sharply below$ 63 thousand, now it cannot gain a foothold above this mark. Yuri Mazur, head of the data analysis department at CEX.IO Broker, commented on the situation for RBC.
Usually news from exchanges affects the rate.Bitcoin and Ethereum. But this impact turns out to be short-term. On the eve of the placement, the rate increased, but the IPO of Coinbase did not have a big effect on the bitcoin rate, and by the end of the trading session on April 14, the quote fell below $ 63,000. On April 15, there is minimal volatility in the market and bitcoin is mostly trading in the $ 62,600 - $ 63,120 range, according to trading data on CEX.IO.
</em>Such news has no long-term impact andare quickly recouped by the market. Therefore, in our opinion, we should not expect the Coinbase IPO to become a determining factor for the industry and have a serious impact on the market dynamics of cryptocurrencies. The main factors in the formation of their prices will be supply and demand on the open market. But market dynamics are likely to have an impact on Coinbase stocks.
If we talk about how important this stage isin the development of the crypto market, in principle, this is a breakthrough in the industry and an important stage in the development of Coinbase. This will increase trust in cryptocurrencies among the broader public. Since Coinbase has gone public, it will come under scrutiny from financial analysts and auditors. This, in turn, will set an example for other aspiring industry representatives who may one day want to list on the NASDAQ.
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The SEC has given the go-ahead to listing Coinbase shares.
Coinbase will be listed on April 14
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