Altcoin surpasses $ 1 after its developer was acquired by the first-ever public cryptocurrency exchange Coinbase
The value of the Bread token has surged more than 500% overnight, to current levels of $ 1.06, according to CoinGecko. Its price began to rise after the altcoin developer Breadwallet, which also develops the eponymous cryptocurrency wallet, announced its purchase of the Coinbase crypto exchange.
The project representative stressed that after the transaction, no changes will appear in the wallet application, and users will be able to conduct transactions as usual. The application was launched at the dawn of the crypto market in 2014. At the moment, the wallet serves over 10 million users.
Coinbase is the world's first public crypto exchange. In April of this year, it was listed on NASDAQ (without IPO). At the peak, the value of the stock exchange's shares reached $ 429.5 per share, then they fell in price. At the close on November 24, the value of the company's security was $ 312.38.