Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: babu10 on April 24, 2021, 07:45:45 AM
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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.
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.
Source........ (https://www.marketwatch.com/story/coinbase-stock-pops-after-going-public-with-crypto-company-valued-above-100-billion-11618421678)
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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.
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.
Source........ (https://www.marketwatch.com/story/coinbase-stock-pops-after-going-public-with-crypto-company-valued-above-100-billion-11618421678)
This news is very good news for all of us. We hope that cryptocurrency will go a long way in the future
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The pioneering move by the Coinbase exchange in the USA market will be attracting other big players in the crypto space to also do the same thing: listing their stocks in the traditional stock exchange. Right now, there are other big exchange platforms enjoying brisk business - most especially in Asia and some of them are already showing some big interest with the same idea. Anyway, I am just wondering: will the $COIN stock of Coinbase experience some level of volatility just like what we are usually seeing in the cryptocurrency market?