The price of Coinbase Global Inc (NASDAQ: COIN) saw an unexpected increase of more than 1.4% before the opening of the market. The current price of COIN is $55.55.Coinbase Global Inc (NASDAQ: COIN) has decided to take the United States Securities and Exchange Commission (SEC) to court over the latter’s ambiguous legislation regarding cryptocurrencies. Because of this decision by Coinbase, there has been more volatility in the market.
On the other hand, the forced court struggle to establish regulatory clarification is turning out well for the largest cryptocurrency exchange in the United States. The price of Coinbase Global Inc (NASDAQ: COIN) saw an unexpected increase of more than 1.4% before the opening of the market. A 2.08-point increase was seen in the price of COIN prior to the opening of the market. It may be inferred from this that the investors have a favorable attitude toward the recent move made by the exchange. The price of COIN finished trading yesterday at $55.55 dollars.
It is essential to take notice that the prices of Coinbase (COIN) shares have been going down over the course of the previous half a year. The price of COIN on the NASDAQ has fallen by approximately 25 percent, and during the course of the previous month, it has seen a decline of 11 percent. The cost has decreased by around 13% over the course of the last 5 days.
After the largest cryptocurrency exchange in the United States moved on to approach the court to compel the SEC to offer clear crypto guidelines, the pre-market jump in the price of COIN occurred. In 2022, the exchange submitted a petition to the commission requesting that the commission create new rules. In an effort to give “clarity and certainty” about the regulatory handling of crypto assets, it solicited responses to over fifty specific queries.
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