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News related to Crypto / Re: Coinbase is most valuable U.S. exchange after first day of trading.
« on: April 25, 2021, 12:10:59 AM »This is very good to see that despite falling from opening price, Coinbase ends first session of public trading at a diluted valuation topping $85 billion which is very very aggressive in market.This news is very good news for all of us. We hope that cryptocurrency will go a long way in the future
Coinbase Global Inc. become the most valuable U.S. exchange Wednesday amid strong demand for the cryptocurrency platform's newly public stock.
Shares of Coinbse coin -0.63% began trading at $381 a share at 1.25 p.m. Eastern on Wednesday, after a $250 reference price was established Tuesday afternoon, and pushed as high as $429.54 before ending its first day of trading at $328.28. Coinsbase held a direct listing instead of a standard initial public offering, meaning that the company didn't raisse money through the process of going public and dosen't have a traditional IPO price against which to measure the stock's firs-day rally.
At the closing price, Coinbase was valued at $85.8 billion on a diluted basis. CME group Inc. CME, +0.57%, the next-most valuable U.S. exchange, has a market capitalization of about $74 billion.
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