CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

Coinbase valuation on Nasdaq could hit $100bn

By Dan Moore

08:22, 14 April 2021

Cryptocurrency exchange Coinbase

Coinbase, the Californian cryptocurrency exchange that is to float on the Nasdaq later today, could achieve a valuation of $100bn soon after launch. 

A valuation of $100bn, which is predicted by many on Wall Street, would make Coinbase bigger than several US exchanges, including CME, ICE and CBOE.

A realistic valuation for Coinbase?

The new exchange, which will go public under the symbol COIN, was given a reference price by the Nasdaq of $250 a share on Tuesday evening, which values it at more than $65bn.

Despite the more conservative valuation pinned on Coinbase by the Nasdaq, ever-growing interest and excitement in cryptocurrencies suggests a higher valuation by the close of play. Certainly, the $63,000 record high attained by Bitcoin, and Coinbase’s recent trajectory, have not gone unnoticed.

What is your sentiment on MATIC/USD?

0.46847
Bullish
or
Bearish
Vote to see Traders sentiment!

Massive first quarter growth

The listing of Coinbase, which last week reported its revenue rocketed by 847% in the first quarter to $1.8bn, looks set to appeal to investors who either don’t want to hold cryptocurrencies themselves, or cannot due to regulatory restrictions.

ETH/USD

3,363.35 Price
+9.170% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

DOGE/USD

0.39 Price
+3.610% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.0012872

BTC/USD

98,643.45 Price
+4.470% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

XRP/USD

1.19 Price
+7.400% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Coinbase primarily provides opportunities for those looking to invest in Bitcoin and Ethereum, the two biggest cryptocurrencies in the world. These have risen in value 800% and 1,300% respectively over the past year, a further testament to the mammoth attraction of this type of investment.

Greater regulatory scrutiny inevitable

Nigel Green, CEO and founder of deVere Group, welcomed the Coinbase listing. He called it a “truly momentous day for the cryptoverse”. But Green also added a word of caution: “With these astronomical price jumps, and as they become increasingly embedded in the global financial system, and, critically, as the direct listing on the Nasdaq will reach a wider investment base other than the usual crypto evangelists, investors must expect much greater government scrutiny.

“Governments, central banks and regulators will be keen to protect the currency status quo. We should expect considerably higher levels of regulation in the crypto market. Indeed, I believe it is inevitable.”

-
Sell
Spread
Chg%
Trade
go to page
+0.79%
go to page
+0.60%
go to page
+4.29%
go to page
+6.78%
go to page
+9.03%
go to page
+1.69%
go to page
-0.51%
go to page
+2.65%
go to page
+1.23%
go to page
+3.15%

Read more: Coinbase IPO: another way for investors to profit from the crypto boom?

Rate this article

Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 660,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading