The direct listing of the Coinbase Global Cryptocurrency Exchange this week is turning out to be a highly anticipated event. Not only will this listing have a direct impact on the future of cryptocurrency, but it is also expected to exert influence on the prices of Bitcoin and other cryptocurrencies. The recent rise in the valuation of Bitcoin, which has gone above $60,000, indicates the positive impact Coinbase listing has on the entire ecosystem of digital coins. In 2021, the valuation of Bitcoin has more than doubled and with a market capitalization of $2.1 trillion, Bitcoin is not far behind Apple’s total worth.
Coinbase will make its public debut on Wednesday, April 14, and its upcoming listing is touted to be the prime reason behind the surge in the market capitalization of the crypto industry. The overall revenue stream of Coinbase is quite strong according to Coinbase review, and this healthy financial credential will help the cryptocurrency exchange attract more investors for buying and selling digital coins. According to one estimate, Coinbase is valued at around $68 billion, and its worth is more than Intercontinental Exchange which owns the New York Stock Exchange.
According to the Chief Executive Officer of Securitize, Carlos Domingo, the direct listing of Coinbase can be easily regarded as one of the major milestones for the Crypto industry. This will allow the investors to gain exposure to digital currencies without even actually owning them. Another expert, Li Jun, the Founder of the blockchain company, Ontology, opines that with this listing, the entire ecosystem of cryptocurrency will become even more important. Further, the Founder and Chief Executive Officer of YAP Global, Samantha Yap, says that the listing event will enhance the cryptocurrency market’s legitimacy and credibility.
The upcoming IPO certainly has the potential to herald a new era in the cryptocurrency domain. It’s not hyped as Coinbase commands a strong footing, and its operational excellence combined with functional prowess is sure to come in handy in its future operations. It will be interesting to witness how investors will respond to this IPO as it can become a game-changer for the crypto industry.