- Coinbase riding high on hopes from the investors as they see the bitcoin’s soaring prices, which has recently crossed $50,000 mark.
- The traders are eagerly waiting for the firm’s public listing.
Coinbase’s valuation is put at $77 billion by the Nasdaq private market.
The current and former employees of Coinbase and the firm’s investors can all take some cash off the table.
Coinbase’s Roadmap For Public Listing
Coinbase, a cryptocurrency exchange is all set to trade publicly in a few months. The valuation of the firm is put at $77 billion by the Nasdaq private market.
The trading of the company’s privately held shares is done on the secondary market. These shares are being traded in the Nasdaq trading market with a valuation of $303 per share. The shares were trading in the largest crypto exchange in the US, Nasdaq.
The two traders who know about the auction further informed that the company’s total valuation now stands at $77 billion, which is more than the Intercontinental Exchange Inc., the New York Stock Exchange owner.
According to the source, the weekly transaction was closed on Friday, and the closing price was $303 per share on the third weekly transaction. In the first week, the closing price was $200 per share, and in the second week, the closing price was noted as $301 per share, and in the third week, it was recorded as $303 per share. Hence, there was a price fluctuation seen in the weekly transaction every time.
When contacted Coinbase, they were not reachable and did not comment on the growing market share. Before the company’s direct public listing, it is seen that they are running an anonymous order book on the private market. The date for the public listing of Coinbase is still unknown.
Widespread Expectations From Coinbase
The current and former employees of Coinbase and the investors of the firm, all can take some cash off the table. When the firm goes public officially, then almost 254 million shares will be available for trading.
The pre-IPO Futures contract of Coinbase were trading on crypto derivatives exchange FTX. The price on which the trading occurred was $386.
The traders have great expectations from the Coinbase’s public listing and wish it will profit while trading. The traders’ sentiments were high within the crypto community, especially as bitcoin (BTC) price continues to sustain above $50,000.
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