{"id":461191,"date":"2021-04-13T20:00:16","date_gmt":"2021-04-13T20:00:16","guid":{"rendered":"https:\/\/wncen.com\/?p=461191"},"modified":"2021-04-13T19:30:15","modified_gmt":"2021-04-13T19:30:15","slug":"coinbase-listing-binance-coin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/binance-coin\/coinbase-listing-binance-coin\/","title":{"rendered":"Coinbase Listing Sends Binance Coin (BNB), Exchange Tokens Soaring"},"content":{"rendered":"
There’s less than 24 hours standing in between now and the time San Francisco-based cryptocurrency exchange Coinbase is listed publicly for the first time. The shot heard ’round Wall Street has caused exchange tokens in particular to surge.<\/p>\n
One of the biggest benefactors has been competitor platform utility token, Binance Coin, along with other similar coins offered by exchanges. Here’s why there’s such interest and demand for the platforms themselves.<\/p>\n
Tomorrow, Coinbase (COIN) begins trading on the stock market in a move that could cause a widespread \u00a0“revaluation for this whole segment higher,\u201d according to Amplify ETFs founder and CEO Christian Magoon<\/a>.<\/p>\n It also comes as Bitcoin price pushes to new historic highs, and crypto “altcoin season” is in full bloom. Coinbase couldn’t be doing better right now<\/a>, and its debut valuation tomorrow is anticipated to be\u00a0between $150 billion based on pre-market trading on FTX.<\/p>\n Related Reading | Coinbase Bitcoin Outflows Are The Strongest Bullish Signal \u201cEver\u201d<\/a><\/strong><\/em><\/p>\n The popular cryptocurrency exchange now synonymous with Bitcoin itself has seen its Q1 2021 revenues beat all of 2020 combined.<\/p>\n The company’s “Coinbase Pro” platform is where many institutions and corporations have been doing business.<\/p>\n The high-wealth individuals and companies moving crypto off the exchange en masse has been called the most bullish signal “ever.” And the bull market has been spilling into altcoins and then some.<\/p>\n <\/p>\n \u201cI think we\u2019re going to see more private companies go public because they see the path, hopefully, that Coinbase takes that recognizes the value in the public marketplace,\u201d Magoon also told CNBC during a segment of ETF Edge.<\/p>\n The potential of other platforms like Coinbase to follow suit has prompted exchange utility tokens such as those from Binance or newcomer trading platform FTX.<\/p>\n Related Reading | Number Of Bitcoin Mentions In Company Earnings Reports Goes Parabolic<\/a><\/strong><\/em><\/p>\nBinance Coin has absolutely exploded amidst Coinbase IPO fever | Source: BNBUSD on TradingView.com<\/a><\/pre>\n
FOMO For Exchange Tokens Bolsters Binance Coin Bull Market ROI<\/h2>\n