Cryptocurrency prices hit record highs on Wednesday as Coinbase Global Inc. listed. stimulated interest in digital assets.
Bitcoin climbed to a record $ 64,829 a piece, ether traded at $ 2,398, and dogecoin – the meme cryptocurrency created as a joke – rose more than 40 percent to nearly 13 cents after reaching 14 cents, according to CoinDesk . The dogecoin rally came despite the fact that Coinbase did not offer trading in it.
Coinbase shares began trading on the Nasdaq Global Select market on Wednesday through a direct listing under the COIN symbol. The shares opened at $ 381 and rose to $ 429.54 in the first few minutes of trading before retreating and hovering around $ 370.
The listing has once again drawn attention to cryptocurrencies, attracting new retailers. This has benefited not only from the best-traded cryptocurrencies such as bitcoin and ether, but also from smaller and cheaper currencies.
“It’s all coming together,” said Joel Kruger, a strategist at LMAX Digital cryptocurrency exchange. “We have a combination of global macro forces that increase risk. We also have a lot of spinning around Coinbase news, and that gives the cryptocurrency market a boost and more exposure. ”