Market Wrap: Bitcoin Stuck Around $63K as COIN Hype Loses Steam
Also, ether continued to move higher after the Berlin Fork.
Coinbase is not an "exchange." Its valuation points to different analogies in traditional finance and the desire for a passive, diversified investment in crypto.
Coinbase is known for its expensive trading fees yet it's still not listing doge, one of the most traded tokens.
“The biggest fear for many crypto traders has always been that big governments might impose harsh restrictions on cryptocurrencies,” said one analyst.
“They used to be revolutionary,” one former user said.
The purchases come a day after the Ark bought $246 million of the crypto exchange's shares during its Nasdaq debut.