The direct listing of Coinbase (Nasdaq: COIN) on Wednesday has generated excitement in the cryptocurrency space, says Kathleen Breitman, co-founder of the smart-contracts blockchain platform Tezos.
The Coinbase stock price rose after its initial trade at $381 a share on Wednesday though has since settled back to about $320.
“It’s great to have Coinbase in the spotlight,” Breitman said in an interview on CoinDesk TV. “It’s fantastic they were able to do a direct listing.”
The rapid growth in smart contracts has underpinned significant price rallies in ether, the native cryptocurrency of the Ethereum blockchain, and other alternative coins (altcoins) over the past year.
Many altcoins have appreciated in the lead-up to COIN’s direct listing, including Tezos’ token XTZ.
Tezos has lagged behind bitcoin over the past year however, tripling in price versus a nine-fold gain for BTC. Ether has increased 16-fold.