After the direct listing, the shares of Coinbase began trading today. The shares of Coinbase open at $381 today from a reference price of $250, representing an increase of 52percent.On a fully diluted basis, Coinbase was valued at $99.6 at its opening. At the beginning of writing Coinbase has appreciated moreover $400 per share, valuing the company at slightly more than $104 billion.
The progress made by Coinbase:
At the reference price Coinbase worth’s $65.3 billion on a fully diluted basis. Due to the position of Coinbase in the large-scale crypto economy, it is eagerly awaiting the debut of Coinbase, which is a huge unlock for the company, especially from the startup perspective. Private investors have invested $8 billion in the company during its existence as a private company.
The company’s new valuation exceeds the previous figure and has brought substantial returns to long-term sponsors. Today, even ordinary people are ready to spend company funds and are willing to pay for this privilege by getting a scratch at the company’s equity. TechCrunch questioned the audience regarding the debut, the results suggest that there is a counter-indication of the trading position of the crypto unicorn stock.
The future planning’s:
The future of Coinbase is quite interesting because the company is richly capitalized and made a considerable profit in the last quarter. Despite that, the company has to secure a stable future that has nothing to do with the cryptocurrency price fluctuations. This refers to the fact that the growth and income of the company should not be setback due to a possible decline in the value of bitcoin, et al.
However, for the followers of crypto, observing the Coinbase list is a win. Ironically, the traditional companies listing on an old fashion exchange indicates a turning point in the crypto economy but most things are gradual. Perhaps the upcoming major trading debut for a cryptocurrency company will be on a decentralized exchange.