Bitcoin, Ether Hit New All-Time Highs on Eve of Coinbase Listing

• The cryptocurrency reached $63,191.37, topping the previous peak price of $61,453 observed about a month ago, as per CoinDesk 20 data. In recent trading, the price of the leading cryptocurrency had given back some of its gains, trading at $62,757.59, up 4.55% over the last 24 hours.
• The rally comes after weeks of bitcoin trading sluggishly in a narrow range below $60,000.
• "Cryptocurrency markets are showing robust strength ahead of the COINBASE IPO as bitcoin moves into the all-time high territory," Matthew Dibb, COO and co-founder of Stack Funds, told CoinDesk
• "A re-rating of crypto assets is definitely on the cards following the $100b valuations of Coinbase's shares (COIN)," Dibb added.
• Analysts projections for COIN's listing are ranging from $19 billion to $230 billion, as discussed last week.
• COIN shares will provide traditional investors exposure to a crypto platform that earns money from fees while avoiding the volatility and risk of crypto assets themselves. "Coinbase will be a lower beta play," Delphi Digital's Kevin Kelly told Bloomberg.
• The exchange recently disclosed Q1 revenue growth of 840% year-on-year, blowing past analysts' estimates by a big margin.
• Bitcoin's latest rally is accompanied by record highs in ether, the second-largest cryptocurrency by market value, and crypto exchange Binance's BNB token.
• Alternative cryptocurrencies, in general, have performed better than bitcoin in recent weeks, pushing the latter's market dominance to two-year lows near 55%, according to data source TradingView.

UPDATE (April 13, 10:24 UTC): Updates share price.

Also read: Traders Opting for Cash and Carry Strategy as Bitcoin’s ‘Contango’ Widens