Connect with us

cryptocurrency

Coinbase Debuts On Nasdaq At Around $100 Billion Valuation

Published

on

Coinbase Debuts On Nasdaq

Coinbase, a cryptocurrency exchange, made its highly anticipated debut on the Nasdaq on Wednesday, April 14, 2021, making it the first cryptocurrency-only company to go public in the United States.

The IPO of Coinbase Global today was a big turning point for the cryptocurrency business. It made an enthusiastic debut on Wall Street when the stock of the digital wallet hit $429 and briefly hit a market cap of $100 billion.

According to analysts, retail trading accounts for 90% of Coinbase’s sales, with the bulk of its transactions taking place in the US and mainly focusing on the two main cryptos: Bitcoin and ETHUSD. Dubbed the most talked-about IPO on Wall Street, Coinbase resumed trading on the Nasdaq Composite Index today under the symbol “COIN”.

What does this mean

Given Coinbase’s reception, crypto optimists insist that Bitcoin is not going anywhere in the near future, but rather becoming more mainstream. They see the Bitcoin craze as the “beginning of a new era” in the world of digital currencies rather than a passing phase.

Due to the young and unpredictable existence of Bitcoin, investors and public companies are also hesitant to invest in Bitcoin. However, as long as the currency’s popularity is maintained, the bubble hypothesis can be debunked as the control and acceptance of exchange rate differences extends later, analysts say.

It is important to note that Coinbase has a strong correlation with Bitcoin and since it benefits from its uptrend, it can also be affected by a market downturn.

What you should know

  • Coinbase has become popular with cryptocurrency optimists since its inception in 2012 to make trading digital currency stocks easier.
  • Coinbase announced last week that its first-quarter revenue grew 847% to $1.8 billion and currently has 56 million confirmed customers.
  • Coinbase is now one of the largest publicly traded companies in the United States with a market capitalization of over $100 billion.
  • Only 83 companies in the S&P 500 Index have a market value of over $100 billion.
  • The combined market value of Nasdaq Inc., which operates the Nasdaq Stock Market, and Intercontinental Exchange, which owns the New York Stock Exchange, is higher than that of Coinbase.
Advertisement
Click to comment

Leave a Reply

Advertisement ==>
Big Brother Nini And Saga Narrate
BBNaija29 mins ago

BBNaija: Nini And Saga Narrates How Queen T0uched Herself Till She Came (Video)

Don Jazzy And Big Brother Liquorose
BBNaija2 hours ago

BBNaija: “I Like Them Together” – Don Jazzy Gushes Over Liquorose And Emmanuel (Video)

Big Brother Michael And Jackie B
BBNaija12 hours ago

BBNaija: “No Hope For White Money” – Reactions As Michael And Jackie B Link Up Outside The House (Video)

Ehi Ogbebor And Peter Agaba
Entertainment13 hours ago

“Hospitals Knew You Wouldn’t Make It, Yet Made ‘Us’ Spend Almost N10M We Should Have Given Your Kids” – Ehi Ogbebor Mourns Death Of Her Driver

Big Brother Queen Narrates
BBNaija14 hours ago

BBNaija: How I Cheated On My Boyfriend With Another Man Because I Didn’t Enjoy S*x With Him” – Queen (Video)

Big Brother Pere And His Friend Saga
BBNaija23 hours ago

BBNaija: “Saga Will Never See Me Coming” – Pere Prepares For Revenge

Blessing Okoro And Big Brother Angel
BBNaija1 day ago

BBNaija: “If Any Of You Had Angel’s Confidence You Will Go N@ked” – Blessing Okoro Tells Angel’s Critics

Tunde Ednut Shade Big Brother Angel
BBNaija1 day ago

BBNaija: “You Show Kpekus Make E Trend But E No Trend” – Tunde Ednut Shades Angel

Big Brother Saga And Pere Video
BBNaija1 day ago

BBNaija: Moment Biggie Showed The House Video Of Saga Badmouthing His Bestfriend, Pere To Nini (Watch)

Big Brother Saga And Nini Task
BBNaija2 days ago

BBNaija: Saga Finally Reveals Why He Failed To Carry Out Biggie’s Secret Task

Doris Ogala New Revelations
Entertainment2 days ago

Actress, Doris Ogala Continues To Drag Prince Kpokpogri, Makes Shocking Revelation (Video)

Big Brother Pere And White Money In The Game
BBNaija2 days ago

BBNaija: “I Misjudged White Money, I Thought He Was Fake” – Pere

Big Brother Saga Received Disciplinary Action
BBNaija2 days ago

BBNaija: Biggie Punishes Saga For Revealing Secret Task To Nini (Video)

Nigerian Musician MK Ooracle Testimony
Entertainment2 days ago

Nigerian Musician Gives Testimony After Surviving Really Shocking Ghastly Motor Accident (Photos/Video)

Big Brother Maria And Her Fans
BBNaija2 days ago

“Don’t Ask Me About Pere, I’m In A Relationship” – Maria Begs Fans After They Kept Asking Her About Pere (Video)

Big Brother White Money And Queen
BBNaija4 weeks ago

“Sorry Baby, You know I Love You” – Adorable Moment White Money Kissed Queen For The First Time (Video)

Big Brother White Money And Jackie B
BBNaija4 weeks ago

BBNaija: “I See You As A Father Figure” – Jackie B Curves White Money After He Asked Her Out

Anita Okoye Demanded $15,000 A Month
Entertainment4 weeks ago

Paul Okoye Marriage Crash: Anita Okoye Wants N7.8M Monthly As Spousal Support

The EFCC Statement
BBNaija4 weeks ago

“Why We Raided BBNaija Star, Dorathy’s House” – EFCC Releases Statement

Big Brother White Money Reveals
BBNaija3 weeks ago

BBNaija: “I’m Attracted To Maria’s Personality, I’ll Like To Have Her Kind As A Wife” – White Money (Video)

Pero Adeniyi's Father Video
Entertainment2 weeks ago

The Idibias: “He Married My Daughter” – Old Video Of Pero Adeniyi’s Dad Claiming 2Baba Married Her Resurfaces

Prince Kpokpogri Denied Audio Recording
Entertainment4 weeks ago

Tonto Dikeh’s Lover, Prince Kpokpogri Reacts To Leaked Audio Where He Allegedly Admitted To Cheating On The Actress (Details/Audio)

BBNaija Saga And Maria
BBNaija4 weeks ago

BBNaija: “Maria Defiled Me By Grabbing My Thing While We Were Dancing” – Saga Cries Out (Video)

BBNaija Housemates Boma and Tega
BBNaija2 weeks ago

BBNaija: Moment Married Woman, Tega And Boma Were Caught In Hot Romance Under The Sheets (Video)

Paul Okoye and Anita Okoye
Entertainment4 weeks ago

Paul Okoye’s Wife, Anita Okoye, Files For Divorce After 7 Years Of Marriage

Five Children In A Fire Accident
Viral4 weeks ago

5 Children Who Died In Fire Accident Buried Amidst Tears (Video/Photos)

Big Brother Naija White Money
BBNaija3 weeks ago

BBNaija: White Money And JMK Caught Cuddling Under The Sheet (Video)

Big Brother Michael
BBNaija4 weeks ago

BBNaija: Maria Reacts After Michael Said He Can Sleep With Angel

Prince Kpokpogri Audio
Entertainment4 weeks ago

Tonto Dikeh’s Ex-bestie, Lady Golfer Mocks Tonto After Viral Audio Of Her New Boo Allegedly Mocking Her

Apostle Suleman Reacts
Entertainment4 weeks ago

Apostle Suleman Reacts To Allegations Of Sleeping With Actress, Chioma Ifemeludike (Video)

Facebook

Advertisement ==>

Trending

%d bloggers like this: