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- The position of Kraken Funds in the economy
- High demand for digital currency is increasing the value of funds
- Kraken tends to increase in value in the upcoming days
One of the biggest cryptocurrency exchanges, Kraken, has around $10 billion in its fund’s valuation. The estimation seems to be double its worth from the previous funding round, which stood around $4 billion. Kraken is in talks with Fidelity, Tribe capital, and General Atlantic, which are involved in financial services, capital, and investment. Kraken is to be crossing $10 billion in the round. Some facts are yet to come.
Leading Factors To High Valuation of Kraken
Being the oldest cryptocurrency firm, Kraken has around 59 cryptocurrencies available for its platform’s trading options. The demand and boom of cryptocurrency as the worldwide acceptance made the high valuation of digital assets to Kraken. Valued the Kraken around $56billion, which is more than the wholesome value of trade in 2019, in January. Kraken generates its revenue through the transactions performed on the platform. The higher the transactions, the higher the transaction fees, acting as a revenue source to the firm. This leads to the revenue generation of the company.
Even though there was a 1000% increase in sign-ups in February and even being the oldest cryptocurrency firm, it’s not holding the first cryptocurrency firm position. According to Coin Market Cap, it holds the fifth position in the market.
Coinbase Close To Its IPO Listing
CoinBase shares are valued at over $100billion, so will be listed on the Nasdaq Stock Exchange. It benefited by revenue of $1.1billion in 2020, marking a profit of $322million, even after facing a loss of $30 million in 2019.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
