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Blockchain stocks surged in Wednesday premarket trading

Tiger Newspress2021-04-14

(April 14) Blockchain stocks rose in Wednesday premarket trading.

The price of the world's most popular cryptocurrency marched to fresh highs on Wednesday, as investors awaited the first listing of a digital exchange on Wall Street.

Bitcoin took out Tuesday's fresh record high above $63,000 , reaching $64,368, a gain of 6% over the past 24 hours. And the gains weren't reserved only for bitcoin, as ether , on the Ethereum network, has gained around 10% over the same period, reaching a fresh record at nearly $2,370 early Wednesday. XRP , which is pegged to Ripple, has jumped 33% in 24 hours, last trading at a new high of $1.95.

On Wednesday, Coinbase will begin trading on the Nasdaq under the symbol "COIN" as a direct listing. meaning it isn't raising any capital as a traditional IPO would. The digital platform was given a reference price of $250 a share late Tuesday evening, which values it at close to $50 billion.

The reference price doesn't determine where the stock will open, but investor enthusiasm has been building, and analysts say that's reflected in the recent surging prices of digital currencies. Trading on the exchange is centered mainly on bitcoin and Ether, the biggest cryptocurrencies.

"Listing of Coinbase in the U.S. is a big deal for many investors because it somehow sends a signal that the U.S. lawmakers aren't 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. Yet some have cautioned that Coinbase's valuation may be far too lofty.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment24

  • Jazling
    ·2021-04-15
    Comment back pls
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    • Mswwf
      ??
      2021-04-15
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  • DasTrader
    ·2021-04-14
    Wow
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  • nctony
    ·2021-04-14
    Square up they up[賤笑] 
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  • 1PC
    ·2021-04-14
    Yahoo [齜牙] 
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  • DenDenBear
    ·2021-04-14
    Reply and like thanks
    Reply
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    • DenDenBear
      Thanks
      2021-04-27
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    • K74
      Thanks
      2021-04-14
      Reply
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    • DenDenBear
      Sure!
      2021-04-14
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    View more 1 comments
  • K74
    ·2021-04-14
    Comment on my post please
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    • Jazling
      Comment back pls
      2021-04-15
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    • K74
      Thanks
      2021-04-14
      Reply
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    • zhen130
      Pls reply
      2021-04-14
      Reply
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  • YPT
    ·2021-04-14
    Hoho[愛你] 
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  • KinKin
    ·2021-04-14
    Fly to the moon!
    Reply
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    • chanfw
      Go go go!
      2021-04-14
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    • SLV888
      Nice
      2021-04-14
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    • KinKin
      [财迷]
      2021-04-14
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  • KriS
    ·2021-04-14
    Yay
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  • chanfw
    ·2021-04-14
    Go go go
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    • KinKin
      Yesss
      2021-04-14
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  • Nivlek
    ·2021-04-14
    Yup the demon coin is rising [得意] 
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  • Yeong
    ·2021-04-14
    Like n comment
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    • Yeong
      Tq
      2021-04-24
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    • Yeong
      Comment back
      2021-04-17
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    • Yeong
      Hi
      2021-04-17
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    View more 2 comments
  • Zayte
    ·2021-04-14
    Let's go crypto! ?
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  • YPT
    ·2021-04-14
    [強] [強] [強] [看漲] 
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  • AL78
    ·2021-04-14
    Yes!!! Finally!!
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  • BossBoss
    ·2021-04-14
    Block chain the next big thing
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  • Delvin
    ·2021-04-14
    FTFT LETSGOOOO
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  • RrrrrrC
    ·2021-04-14
    Like and comment
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    • K74
      Likewise please
      2021-04-14
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  • JasonBarry
    ·2021-04-14
    Like n comments ? awaiting for coins 
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    • K74
      Likewise please
      2021-04-14
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  • mokkie
    ·2021-04-14
    Big day later on the price trend for bitcoins
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    • CarmenMok
      Ended up higher than $250. is that good or bad?
      2021-04-15
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