Coinbase Rallies After NFT Marketplace News

Coinbase had over 1.35 million sign-ups on its waiting list for the newly announced NFT Marketplace. That is around four times the number of OpenSea users according to an analyst. Coinbase (COIN) shares rose 6% yesterday after reports stating the crypto exchange’s new NFT marketplace waiting list numbers. 

“We believe the immediate and emphatic reaction of retail customers to its announcement on Tuesday that it would launch a non-fungible token (NFT) marketplace by the end of the year has demonstrated its ability to accelerate the transformation of its franchise,” BTIG analyst Mark Palmer wrote.

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