A "Buy Back and Build" proposal approved in January aims to bolster the project's treasury and generate value for all stakeholders.
But the impact on the market may be little.
The Coinbase listing is seen as a watershed moment for the cryptocurrency industry.
Long-term BTC holders (HODLers) are less tempted to sell relative to prior bull markets, according to data from Glassnode.
Dogecoin doesn't trade on Coinbase but it has rallied ahead of the exchange's shares trading on the Nasdaq.
Tax hikes could encourage profit taking in cryptocurrencies, but some investors remain bullish as ongoing stimulus could trigger inflation.
Bitcoin has picked up a tail wind in the lead up to Coinbase's stock listing on Nasdaq
"Launching a bitcoin ETF in the U.S. will be the key to normalizing the pricing of bitcoin futures," according to JPMorgan.
Bitcoin prices have doubled this year, but several major altcoins have risen by many multiples.
Bitcoin struggled near $60K again; support is nearby around $58K as buyers take some profit.
The token used in Ripple Labs' payment network has climbed sixfold this year as some traders look through the SEC case and analysts see bullish patterns in price charts.
Cash and carry traders seek to profit from the spread between bitcoin's price in futures and spot markets.
The price action comes just ahead of a highly anticipated Nasdaq listing for leading U.S. crypto exchange Coinbase.
The wide range shows the extreme uncertainty and risk of investing in the fast-moving cryptocurrency industry.
XRP has rallied by over 50% so far this week, for a market value of $37 billion.