Apr 14, 2021 - Economy & Business

Coinbase opens at $102 billion valuation on first day of public trading

Illustration of gold coins with binary code and the letter "C" against a backdrop of a stock chart
Illustration: Sarah Grillo/Axios

Cryptocurrency exchange Coinbase opened trading on Wednesday at $381 per share, giving it a fully diluted market value of around $102 billion.

Why it matters: This is a slight premium to the most recent private trades for Coinbase stock, and more than 50% higher than the reference price set last night by the Nasdaq.

The big picture: Coinbase's public listing has been among the most anticipated in recent years, with expectations it will garner a massive market cap.

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