Coinbase at NASDAQ
Coinbase(COIN) was teh greatest issue in the world crypto during last week
After much anticipation, for the first time a cryptocurrency broker was listed on the Nasdaq tech exchange, leaving the feeling that an important milestone has been reached and that perhaps Wall Street will have to consider paying more attention to Bitcoin going forward.
On the day of the debut, the shares closed quoted at US$329.00, reaching an increase of 31.66% in relation to the reference price of US$250.00 and reached US$429.00 at the day's high. This caused the market value of the company, which has just over a decade of existence, to reach US$85 billion.
DIRECT LISTING X IPO
The way that Coinbase used to be listed was through a direct listing, a relatively new way for companies that want to go public. In this format, there is no withdrawal of new money, as in a traditional IPO, nor the dependence on an investment bank to act in underwriting and set prices.
A REALITY MORE AND MORE DIFFICULT TO BE IGNORED
The moment can be a watershed moment, as it will place consolidated players in the financial market, such as the large traditional banks, in a situation that is forced to offer its customers cryptocurrency trading solutions, with the risk of being left out of the new one. reality that is being drawn.
In addition, the crypto market will have exposure to major stock market investors, a catalyst that can boost the adoption of digital assets and that demonstrates that the market is no longer just a niche, but is more mature and comprehensive than ever.
Even competitor Binance entered the game and announced on Wednesday that it will list a digital token backed by Coinbase shares.
Coinbase recorded revenue of $1.8 billion in the quarter (against $1.27 billion for the entire year 2020) and reported 6.1 million active users in the first quarter, more than double the number during the year. last quarter of 2020.
In the moments leading up to the event, Bitcoin's price soared and reached a new historic high of $64,000.