Coinbase (COIN) IPO Pushing Demand to New Highs
Coinbase (COIN) is the largest US-based cryptocurrency exchange and the first to become publicly-traded as of last Month.
Since the massively- hyped IPO, COIN shares have struggled. However, underlying consumer demand for coinbase is pushing new ATHs.
Mentions of buying and selling cryptocurrency on Coinbase’s platform recently surpassed the previous high on the 90-day moving average trendline, up a whopping +662% YoY.
We saw a sizable pullback in the cryptocurrency market last week, but with the likes of JP Morgan and Dave Portnoy buying the dip, BTC and company are green today.
This rally comes as a major relief for Coinbase (COIN), who’s newly-minted shares traded -14% lower in sympathy last week.