Coinbase, a US-based cryptocurrency exchange, traded on the Nasdaq Private Market ahead of its public listing, continued to climb during this week. According to The Block , the latest deals were at a price of $ 373 per share, which implies a capitalization of $ 100.3 billion. At the end of last week, Coinbase shares were quoted slightly above $ 300, and in January – about $ 200.
Nasdaq provides companies with the ability to organize such markets before listing on the main exchange so that employees and investors can sell their shares. Trades start on Monday morning and end on Thursday evening. Calculations take place after the close and the results are published on Friday. Who buys Coinbase shares is unknown, but sources say they are likely large investment firms.
As seen in the image below, multi-billion dollar buy orders were placed between $ 350 and $ 450 during the last session. The buyer is not obliged to immediately secure his application and can indicate any numbers in it. The extent to which these applications were executed is unclear.
Earlier it became known that Coinbase could participate in the purchase of bitcoins for $ 1.5 billion by Tesla.