Coinbase Closes 1% Lower on Second Day of Trading After Listing

Bitcoin Consolidates Around $63,000

[Asia Economy New York=Correspondent Baek Jong-min] Coinbase, the largest cryptocurrency exchange in the United States, closed slightly lower two days after its Nasdaq market listing.

[Image source=Reuters Yonhap News]

On the 15th (local time), Coinbase closed at $322.75, down 1.68% from the previous day.

On its first day of listing, the 15th, Coinbase closed up 31% compared to the reference price of $250, but it failed to maintain the upward trend. The day before, Coinbase's price rose as high as $429 during trading, reaching a market capitalization of $100 billion.

On that day, Coinbase started trading at $348, up from the previous day, but continued to decline. During the day, it dropped to as low as $317, but buying interest before the close reduced the decline.

Bitcoin prices moved around the $63,000 range that day. The stocks of Bitcoin-holding companies such as Tesla, Square, and MicroStrategy, which showed weakness the previous day, also showed little change on that day.

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