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 ==>
Actress Toyo Baby Called Out Timi Adigun
Entertainment22 mins ago

Actress, Olayode Juliana Burst Into Tears As She Calls Out Pastor Timi Adigun For Allegedly Taking Control Of Her Social media Accounts (Video)

A Nigerian Woman Transport Fare
Viral41 mins ago

Lady Berates Guy Who Sent Her N5k As Transport Fare To Visit Him In Lagos From Abeokuta, Says She Has Spent It (Video)

A Nigerian Woman Reunited With Her Boyfriend
Viral1 hour ago

Moment Nigerian Lady Reunited With Her Boyfriend Who Relocated To The UK To Be With Her Because She Didn’t Want To Return To Nigeria (Video)

James Brown Boyfriend Papito
Entertainment2 hours ago

Nigerians React To Loved-Up Video Of James Brown With A Mystery Man (Watch)

A Nigerian Woman Wedding Called Off
Viral3 hours ago

Woman Ends Her Marriage Days After Her Wedding As She Accuses Her Husband Of Being A Scam

A Nigerian Man White Bride
Viral3 hours ago

Nigerian Man Jilted At The Altar By His White Fiancée During Their Wedding Ceremony In Bangladesh (Video)

Actress Kisa Gbekle Surgery
Entertainment6 hours ago

Actress, Kisa Gbekle Reveals Why She Underwent A GHS60K (N3.8m) Plastic Surgery

Jaruma In Prison
Entertainment6 hours ago

Jaruma Remanded In Prison Over Her Post About Regina Daniels’ Husband Ned Nwoko

Jasmine Alicia Carter Reveals
Viral7 hours ago

“It Is Pure Nutrient” – Woman Says As She Reveals What She Drinks And Applies On Her Face (Video)

A Nigerian businessman In Lagos
Viral7 hours ago

Hotel Owner Reportedly Killed By His Wife For Impregnating Another Woman In Lagos

A Nigerian Woman Baby Girl
Viral14 hours ago

Nigerian Lady Who Was Expecting A Baby Girl Left Heartbroken After Losing The Months-Old Pregnancy (Watch)

A Nigerian Woman White Boo
Relationship & Lifestyles14 hours ago

Nigerian Lady Shows Off Her White Man That Has Totally Blended In Nigeria (Video)

Actress Adesua Etomi-Wellington Shares
Entertainment22 hours ago

“God Saved My Life After Suffering A Postpartum Hemorrhage” – Adesua Etomi-Wellington Recounts Childbirth Ordeal As Her Son Turns One

Shan George Responds
Entertainment1 day ago

Mercy Aigbe: “If One Leaves A Failed Marriage, Make E No Marry Again?” – Actress, Shan George Queries Critics

Phyno Christian Movie
Entertainment1 day ago

“You Look Like Jesus Christ” – Billionaire, Obi Cubana Tells Phyno; Nigerians React (Video)

Nigerian Singer Tiwa Savage Viral Tape
Entertainment4 weeks ago

Tiwa Savage Allegedly In Another Mess With The Man In Her Viral Tape (Details)

A Nigerian Woman In Plateau State
Viral3 weeks ago

Nigerian Lady Allegedly Last Seen With Her Boyfriend Found Dead With Body Parts Removed (Videos)

Actress Uche Ogbodo Shares
Entertainment3 weeks ago

“How Pregnancy Saved Me From Sudden Death” – Actress Uche Ogbodo Reveals (Video)

A Clothing Store On Social Media
Viral3 weeks ago

Lady Calls Out Clothing Store After Skimpy Dress Bought From Them Ripped Open While She Was Partying (Photos)

Teenagers In Bayelsa State
Viral3 weeks ago

Two Teenagers Caught While Allegedly Trying To Use A 14-Year-Old Girl For Rituals In Bayelsa (Photos/Videos)

The Plateau State Police Command Arrested
Viral2 weeks ago

UPDATE: Suspected 20-Year-Old Killer Of UNIJOS Student, Jennifer Anthony, Paraded In Jos (Photos)

Singer Portable Throwback Photos
Entertainment4 weeks ago

“Na Fine Boy Before” – Nigerians Reacts To Throwback Photos Of Zazu Star, Portable

Music Artist Ubi Franklin Reacts
Entertainment2 weeks ago

Ubi Franklin Reacts As His Ex-Wife Sandra Iheuwa Is Kicked Out By New Husband, Steve Thompson After 5 Months Of Marriage

Patience Ozokwor Last Conversation
Entertainment4 weeks ago

Patience Ozokwor Reveals Heartbreaking Last Conversation With Late Actor Sam Obiago (Video)

Transvestite Bobrisky Response
Entertainment4 weeks ago

Bobrisky Shows Off Part Of His Butt After His Former PA Shared Clip Of His Alleged Discoloured Butt 

Actor Kanayo O. Kanayo Holiday Season
Entertainment4 weeks ago

“Stop Forming When You Arrive Your Village, Be Local” – Actor, Kanayo O. kanayo Advises As He Drinks Soup From Plate (Video)

A Nigerian Video On Social Media
Viral3 weeks ago

Nigerian Lesbian Shares Measure She Took In Making Up With Her Girlfriend After They Had A Fight (Video)

Angel Smith 2022
BBNaija3 weeks ago

“Everyone Here Is Looking At Me” – Angel Expresses Shock Following Reactions Generated By Her Outfit

Lauren Smith-Fields Family
International News4 weeks ago

Family Seek Answers After 23-Year-Old Woman Was Found Dead In Her Apartment After Meeting An Older White Man On Dating App (Video)

Actress Tonto Dikeh Explains
Entertainment3 weeks ago

“Why I Can’t Delete Sex From My Life” – Actress Tonto Dikeh

Facebook

Advertisement ==>

Trending

%d bloggers like this: