AA NewsCoinbaseCrypto NewsWall Street

Coinbase is Valued at $100 Billion Before Direct Listing on the Nasdaq

Coinbase has yet to go public, and the markets are already on fire in anticipation of the most awaited direct listing in the cryptocurrency world and the what will be the first major listing ever recorded on the Nasdaq.
An independent valuation based on the price of its shares in private markets determined that Coinbase has a potential valuation of between $90 billion and $100 billion before its direct listing.
During its Pre-Listing Days, Coinbase Went Up
According to activity in late February, this price would far exceed a previous valuation of $77 billion. At the time, confidential sources told Coindek that as the “big day” approached, speculators were bidding higher and higher on the stock.
“The third weekly transaction closed on Friday and the clearing price was $303 a share. The first week it was 200 bucks a share, the second week it was $301 a share, and the third week it was $303 a share. So you can kind of see price discovery happening.”
Bloomberg reported that, during the last day of private trading before the direct listing, investors traded Coinbase stocks at a range between $350 to $375, which would raise Coinbase’s valuation by as much as 33% in a matter of weeks, and over 300% higher than what analysts expected for its IPO (priced at just $28 million).
Before going public, credited investors could trade Coinbase shares on the Nasdaq Private Market, a restricted market with low volume and high volatility, where a limited number of participants can speculate on the price of some shares of companies …
Story continues on Crypto Potato

Related posts
AA NewsCrypto NewsRippleSECSocialXRPBTCXRPUSD

Ripple Has Settled Its Lawsuit Against YouTube

Nearly a year after filing a lawsuit against YouTube for failing to prevent XRP giveaway scams, Ripple Labs has settled the issue without disclosing any further details. In the other ongoing Ripple-related lawsuit, the SEC has asked Judge Analisa Torres…
ADABTCADAUSDBCHBTCBCHUSDBinance Coin (BNB) PriceBitcoin (BTC) PriceBNBBTCbnbusdBTCEURBTCGBPbtcusdBTCUSDTCrypto NewsDOTBTCDOTUSDDOTUSDTETHBTCETHUSDfeatured1LINKBTCLINKUSDLTCBTCLTCUSDMarket UpdatesSocialUNIBTCUNIUSDUNIUSDTXRPBTCXRPUSD

Market Watch: Bitcoin Price Came Just 4% From a New All-Time High

Bitcoin has managed to hit a high at nearly $56,000 today but has since retraced a bit and it now hovers above $54,000. However, BTC’s dominance suffers as some altcoins, including Binance Coin, have surged in the past 24 hours,…
AA NewsCrypto NewsSocialTwitter

Twitter Purge: Major Cryptocurrency Accounts Suspended

In an interesting twist of events, Twitter, the social media platform spearheaded by Jack Dorsey, one of Bitcoin’s most influential proponents, has now suspended some major cryptocurrency-related accounts. Twitter has suspended numerous accounts that are related to cryptocurrencies. Some of…