Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Business » FTX Traders Double Money as Airbnb Stock Soars

FTX Traders Double Money as Airbnb Stock Soars

by

Trading for an Airbnb derivative contract opened on FTX on Wednesday, starting at $60. A frenzy during yesterday’s IPO has now put many traders in substantial profit.

FTX Traders Double Money as Airbnb Stock Soars
Shutterstock cover by Ascannio

Share this article

FTX traders who bought Airbnb stock before NASDAQ listed the rental platform have just won big on their bet. 

Frontrunners Bet Big on Airbnb

The online rental marketplace went live as a derivative contract on the exchange on Wednesday, a day before the company’s Initial Public Offering.

The value of the stocks has since soared following the company’s highly anticipated IPO. 

Source: TradingView

FTX CEO Sam Bankman-Fried shared news of the listing on Wednesday, pointing out that it went live ahead of Nasdaq. FTX, which is known for derivatives trading, has built a strong reputation for its innovative work in the cryptocurrency space.

Earlier this year, the platform listed Facebook and Netflix, among others. Its daily trading volume is currently around $2 billion. 

The Airbnb derivatives opened at $60 on FTX — around the price it was expected to open at in the IPO. The contracts were designed to perform in line with Airbnb stock’s market cap at the end of its first public trading day. 

The ABNB share price was listed for $68 in the IPO, but trading opened at $146, putting its market cap at a massive $86.5 billion. 

After the first public trading day, the derivatives on FTX became Fractional Stocks contracts. 

The price surge means that anyone who bought early on FTX has more than doubled their money in less than 48 hours. 

ABNB is currently trading at $147 on Nasdaq. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.