Cryptocurrency exchange Coinbase went live on NASDAQ at an opening price of $381. Shortly after the launch, the price of COIN went above $400 but soon crashed by almost 13%. As of press time, COIN is trading at $330.51.
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While Coinbase is the latest company to go public via a direct listing, it is the first public cryptocurrency exchange in the US. With market capitalization over $100 billion, Coinbase became way bigger than the New York Stock Exchange owner Intercontinental Exchange and Nasdaq.
Earlier, iHodl reported that cryptocurrency exchange Binance launched trading of Coinbase's tokenized shares. According to the platform, the Coinbase Stock Token (COIN) is included in the COIN/BUSD trading pair.
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