Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Micky on March 06, 2021, 07:55:34 AM
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Coinbase’s upcoming direct listing will make it the first cryptocurrency exchange to go public. This listing has been described as an “Amazon moment” by analysts from D.A Davidson.
Coinbase, filed papers with the US Securities and Exchange Commission on Feb. 25, for the listing on the Nasdaq.
The company’s valuation is set at $100 billion, based on its secondary market price at $373 a share. This would make it the biggest listing for a tech company since Facebook.
Analyst Gil Luria from D.A Davidson told CNBC that with this listing the cryptocurrency market and stock market will become intertwined.
“It’s going to become clear that crypto is a giant asset class with a Trillion Dollars, is very relevant to the future of the delivery of financial services, and Coinbase is going to present that moment to the marketplace,” said Lucia.
Luria’s confidence in Coinbase’s success lies in its diversification. He explained that it’s diverse coin offerings means that investing in the exchange itself lessens the risk for the investor, in comparison to investing in one coin market like bitcoin.
While Luria presented an encouraging outlook, he did note that the volatility of cryptocurrency markets is likely to play a role in the price of Coinbase stock.
Coinbase Direct Listing a Milestone: Analysts
https://cryptonews.net/481763/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared (http://Coinbase Direct Listing a Milestone: Analysts
https://cryptonews.net/481763/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)