As a crypto investor, I’m thrilled to be part of the journey with Exodus Movement Inc, a wallet developer that just made history. They’ve now joined the ranks on the New York Stock Exchange (NYSE) American, a significant leap from their previous trading in the OTC Markets (OTCQX). This NYSE listing is more than an upgrade for them; it’s a testament to their growth and potential in the crypto world.
Exodus Innovation Paid Off?
In 2015, the company that creates self-managed cryptocurrency wallets gained attention and started supporting various protocols, including Bitcoin and Algorand. Before being listed on the NYSE American, the company’s stock was denoted by the ticker symbol “EXOD.” Often seen as a moderate performer, the stock reached its peak price of $41 in December 2024 due to excitement surrounding its potential uplisting.
In May, an attempt by the firm to list on the New York Stock Exchange was halted by the Securities and Exchange Commission (SEC) in the United States. This last-minute approval signifies a significant change in the regulatory environment for cryptocurrencies within the U.S., as President Donald Trump has shown support for the crypto sector. The president-elect has been receptive to leaders in the industry, including recently meeting with Ripple‘s CEO, Brad Garlinghouse.
With the listing, Exodus represents the first time common stock will be tokenized on a blockchain.
BREAKING: The NYSE officially welcomes @exodus, which is tokenized on the Algorand blockchain.
This marks the first time common stock has been tokenized on a blockchain.
— Chain Gab (@ChainGab) January 8, 2025
In the meantime, the listing of EXOD has led to a significant drop in its price, causing worry among investors who fear that the listing may not have been beneficial. According to current market figures, the price of EXOD fell by 10.71% within a day, reaching $35.10. However, despite this downturn, the company’s stock has experienced a 14% increase over the past five trading days.
Spotlight for Lagging Supported Tokens
The Exodus digital wallet accommodates several popular cryptocurrencies available today, such as Bitcoin (Bitcoin), Algorand (Algorand), EOS, and more.
The company’s initial public offering (IPO) on the New York Stock Exchange will shine a brighter light on these assets, potentially sparking renewed curiosity about them.
The listing of Exodus on the NYSE could potentially spur a ripple effect in the market, but more importantly, it’s serving as a trailblazer for other companies planning to go public this year.
Bitwise on Firms To Go Public This Year
According to Bitwise’s 2025 projections, it is anticipated that at least five cryptocurrency companies will conduct initial public offerings (IPOs) in the United States this year.
The leading contenders for the position include Kraken Exchange and Circle Internet Financial, followed by Figure, Chainalysis, and Anchorage Digital, rounding out the top five prospective choices.
Circle is taking an active approach with its Initial Public Offering (IPO) preparations. Yet, it’s on hold until receiving approval from the U.S. Securities and Exchange Commission (SEC). Last year, the company revealed plans for growth in Hong Kong as a precursor to this event.
Read More
- XRP PREDICTION. XRP cryptocurrency
- EUR MYR PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- USD MXN PREDICTION
- USD BRL PREDICTION
- OKB PREDICTION. OKB cryptocurrency
- EUR CAD PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- GBP RUB PREDICTION
2025-01-09 01:02