Silvergate Bank Officially Listed on NYSE
Pro-crypto, Silvergate Bank shares, launch for trading on November 7 on Ney York Stock Exchange (NYSE). Silvergate Capital is a commercial bank focused on digital currency business located in California. The company became a part of NYSE listings, opening at $12.75, according to the tweet of NYSE.
At the same time, the bank also celebrates its initial public offering (IPO).
After the news, the Silvergate Capital Corporation announced the pricing of its IPO of 3,333,333 shares if its Class A common stock. And its public offering price is at $12.00 per share on November 6. On the offered shares, Silvergate offers 824,605 shares. On the other hand, selling shareholders are offering 2.508,728 shares.
In addition to that, they expect the offering to close on November 12. And according to Silvergate, it is subject to customary closing conditions.
Bitcoin Steadying as Volatility Collapse
Meanwhile, Bitcoin (BTC) continued its downtrend on November 7. And it hardly kept its support over $9,200 price mark. Then, market commentators remained realistic regarding the future.
In a data showed, BTC/USD declined 1.6%, circling $9,250 following a sudden dip as markets bounce off $9,200. And that level has been in play for the past few days. Also, it has seen two tests since local highs of $9,520 on Monday.
Moreover, the behavior this week continues a broader trend which reported previously – Bitcoin stays range-bound between $9,000 and $9,500.
Recently, commentators are considering the change for a change in the pattern as volatility lessens. Jim Wyckoff of gold outfit Kitco stated, “Recent price action (Bitcoin) has choppy, quiet, and sideways. This collapse in volatility suggests a much bigger price move is right over the horizon – maybe this week.”
But Michaël van de Poppe sees that Bitcoin appears to be very much alike to 2016. And this was just before markets started a breakout to all-time highs of $20,000.