Bitcoin
BTC$36 440.02

-0.54%

Ethereum
ETH$2 391.51

-2.26%

Tether
USDT$1.000288

-0.01%

Binance Coin
BNB$380.90

2.83%

USD Coin
USDC$0.999656

-0.05%

Cardano
ADA$1.018466

-2.84%

Bitcoin Price Lifts Crypto Stocks Ahead of Coinbase Listing


15 Apr 2021

#Bitcoin

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.”


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 74.8% 46 $36 440.02 -0.54% -6.27% $690 249 828 112 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 70.4% 61 $2 391.51 -2.26% -15.99% $285 413 947 340 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $1.000288 -0.01% 0.01% $78 191 159 918 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 70% 65 $380.90 2.83% -10.73% $62 892 838 207 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92.8% 1 $0.999656 -0.05% -0.02% $49 469 609 170 USDC 7 days price change
6 Cardano (ADA) ADA Cardano predictions 67.2% 64 $1.018466 -2.84% -16.24% $34 172 614 154 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 71.6% 53 $0.595622 -2.09% -13.43% $28 433 155 075 XRP 7 days price change
8 Solana (SOL) SOL Solana predictions 70% 67 $88.51 -2.42% -27.36% $27 879 047 959 SOL 7 days price change
9 Terra (LUNA) LUNA Terra predictions 64% 73 $49.02 -18.93% -35.45% $19 644 476 734 LUNA 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 67.2% 64 $0.138977 -2.55% -9.51% $18 438 138 572 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 64.4% 68 $17.64 -1.41% -20.96% $17 421 416 458 DOT 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 65.2% 66 $62.75 -3.19% -16.79% $15 365 789 164 AVAX 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $1.000626 0.19% 0.02% $14 853 235 915 BUSD 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 64.4% 73 $1.60 -0.20% -14.76% $11 930 161 847 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 66.8% 68 $0.000021 -1.22% -19.95% $11 257 222 749 SHIB 7 days price change

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