Prominent cryptocurrency exchange, Coinbase, raised eyebrows when it announced that it was going public. The exchange ditched the IPO path and decided to Direct List the exchange under the ticker symbol, ‘COIN’. Nasdaq and Coinbase, both witnessed a massive plunge as the asset surged from $381 to $424. While this debut proved to be successful, the exchange has reportedly decided to roll out options trading on Nasdaq.
Reuters, in its latest report, revealed that Coinbase Global would enable COIN.O options further allowing its trading on Nasdaq.
Coinbase Expands Its Features On Nasdaq
Coinbase is touted as the largest crypto exchange in the United States. Despite its popularity, the exchange faced widespread criticism for its untimely downtime. Nonetheless, the exchange bounced back with its direct Nasdaq listing. Regardless of the fact that the first day appeared to be extremely beneficial for the exchange, users expressed concern about volatility. This did not stop the crypto platform from expanding.
Users will now be able to make a bet on the fortunes of the crypto platform with the latest equity options feature. Furthermore, it was revealed that the exchange would allow its users to trade options under, COIN,O starting from 20 April 2021.
Additionally, volatility seemed to be a grave problem for the exchange’s latest venture. The world’s largest cryptocurrency exchange, Binance was quick enough to announce the listing of the Coinbase Stock Token [COIN], however, the exchange went on to later assert that the listing would be postponed citing volatility concerns.
At the time of writing, COIN was trading for $333 and continued to emerge as a promising asset. The exchange decided to lure in several indiviuals with a Bitcoin giveaway. The exchange tweeted,
“To celebrate $COIN, we’re giving away $1.5M in bitcoin. Sign up for a new Coinbase account before April 22 for a chance to win. Contest rules and details are at https://bit.ly/2QwFGdm Void where prohibited. No purchase necessary. Restrictions apply.”