Bitcoin’s Weekend Moves Again Drive Coinbase’s Monday Trading
- Correlation almost one-to-one with price changes for Coinbase
- Crypto’s around-the-clock trading amplifies the relationship
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The common shares of public companies that operate exchanges usually rise and fall with the popularity of the stuff that trades on them. Coinbase Global Inc. takes that correlation to a whole other level.
For the biggest U.S. cryptocurrency exchange, that means looking at Bitcoin, specifically, the largest digital asset’s weekend moves, which can give investors an insight into how Coinbase might open for trading on the Nasdaq any given Monday.