Bitcoin Price Lifts Crypto Stocks Ahead of Coinbase Listing
Listed firms that deal in cryptocurrencies or have exposure to them saw a field of green in global markets Wednesday, ahead of the much-anticipated direct listing of crypto exchange Coinbase on the Nasdaq. For instance, MicroStrategy, the data intelligence firm that has added huge amounts of bitcoin to its balance sheet saw its shares up 18.5% over the past few days, tracing a 7.8% jump Tuesday morning that mirrored bitcoin’s rise.
The emergence of bitcoin proxy stocks in recent months has created a cottage industry among investors who want crypto’s upside but don’t (or can’t) hold crypto itself. Indeed, JPMorgan filed to launch a “Cryptocurrency Exposure Basket” in March. The need for backdoor access to bitcoin is only heightened in the U.S., where the Securities and Exchange Commission has been extremely reticent to approve a bitcoin exchange-traded fund (ETF).
Also up in global trading was Colorado-based bitcoin mining company Riot Blockchain (NASDAQ: RIOT), which saw a 15% increase; and Canaan (NASDAQ: CAN), another mining firm that saw an 11% bump over the past 24 hours. Bitcoin, the leading cryptocurrency by market capitalization, was near all-time highs above $64,000 at press time.
Coinbase (NASDAQ: COIN), whose fortunes are closely wedded to the price of bitcoin, was slapped with a reference price of $250 ahead of Wednesday’s listing – somewhat lower than trading on private markets in the weeks running up to its debut. Coinbase coming to market is a rising tide for all crypto players, said Jonathan Rowland, CEO of London-listed cryptocurrency firm Mode, whose shares are up around 12% in the past few days. “I don’t think we have seen an uptick as high as I might have expected,” Rowland said in an interview. “We think that a lot of the crypto community who invest in shares may have taken some money off the table with some of the smaller holdings like Mode in order to buy Coinbase.”
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 73.6% | 50 | $60 961.08 | -0.41% | -5.28% | $1 204 731 421 404 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 79.6% | 42 | $2 363.44 | -3.63% | -10.16% | $284 490 888 046 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $0.999775 | -0.01% | -0.01% | $119 613 677 756 |  |
|
| 4 |  BNB |
Binance Coin predictions | 76% | 52 | $540.95 | -1.40% | -9.40% | $78 942 650 731 |  |
|
| 5 |  SOL |
Solana predictions | 70.8% | 55 | $137.87 | -5.78% | -9.64% | $64 589 113 449 |  |
|
| 6 |  USDC |
USD Coin predictions | 95.2% | 1 | $0.999956 | 0% | -0.01% | $35 574 574 274 |  |
|
| 7 |  XRP |
XRP predictions | 84% | 31 | $0.524465 | -11.22% | -11.21% | $29 665 883 603 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 79.6% | 41 | $0.104833 | -1.45% | -8.86% | $15 327 743 829 |  |
|
| 9 |  TRX |
TRON predictions | 93.2% | 1 | $0.154264 | 0.31% | 1.24% | $13 358 698 727 |  |
|
| 10 |  TON |
Toncoin predictions | 73.6% | 49 | $5.25 | -3.22% | -9.96% | $13 294 187 711 |  |
|
| 11 |  ADA |
Cardano predictions | 77.6% | 45 | $0.341218 | -2.96% | -13.50% | $11 927 751 391 |  |
|
| 12 |  STETH |
Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 13 |  WTRX |
Wrapped TRON predictions | 96% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 14 |  AVAX |
Avalanche predictions | 67.2% | 73 | $24.88 | -4.29% | -11.44% | $10 110 122 710 |  |
|
| 15 |  WBTC |
Wrapped Bitcoin predictions | 92.8% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
