Coinbase’s value is close to the combined market value of Nasdaq Inc., which runs the Nasdaq Stock Market, and Intercontinental Exchange, which owns the New York Stock Exchange.įounded in 2012, Coinbase became popular among cryptocurrency fans by providing them with an easier way to exchange shares of Bitcoin and other digital currencies.

companies - just 93 companies in the S&P 500 index have a higher market value. That market value makes Coinbase one of the biggest publicly traded U.S. That puts Coinbase's market value at $85.78 billion. Shares of Coinbase are listed on the Nasdaq under the ticker “COIN,” and closed at $328.28, up 31% from the $250 reference price set by Nasdaq ahead of the first trade. Bitcoin’s price topped $64,000 on Wednesday, up from $29,000 at the start of the year, and Coinbase said recently that first-quarter revenue should total around $1.8 billion, exceeding its revenue for all of 2020. As long-term market deals with volatility, the market may try to find a balance at the current level.The San Francisco-based company’s listing on a public stock exchange is seen by some as an inflection point for digital currencies, as Coinbase’s fortunes are closely tied to Bitcoin, the most popular cryptocurrency. The current ETH market suggested an ongoing tussle between buyers and sellers as the asset closes in on support at $2,274. This meant the buyers were still trying to push the price. Awesome Oscillator indicator was noting the momentum rising as it switched to the positive side.

There was confusion visible among the traders as the price suddenly turned around. It was a sign of the rising selling pressure but could also push the price to a tradable range. Stochastic RSI was in the overbought zone and the RSI line dropped under the signal line.

However, with Ether being overbought, it would first need to find stability. This triggered selling pressure in the market inviting high volatility.Īs the price was also climbing higher within an ascending channel, the price could find support at $2,045 and bounce back. However, it rejected the resistance and was now heading lower towards support at $2,045.

The price broke out of the double bottom pattern and surged till $2,274.

Ethereum price coinbase