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Marco Verch via flickr
Coinbase, the largest cryptocurrency exchange in the United States, listed directly on the Nasdaq exchange. At the opening of trading, Coinbase shares were valued at $381, while the market capitalisation of the entire company was $99.6 billion, according to the exchange. In the first 10 minutes of trading, shares gained more than 60% from the pre-listing reference price ($250) and the company's capitalization reached $105 billion. This makes Coinbase one of the 100 most expensive public companies in the United States, notes the American Forbes.
Coinbase's market capitalisation at the peak of trading was 13 times the valuation made by investors in the last round of investment in Coinbase in October 2018: the cryptocurrency exchange then raised $300m and was valued at $8bn. Coinbase has also surpassed two US stock exchanges combined in value: Nasdaq is capitalised at $26bn and Intercontinental Exchange (the parent company of the New York Stock Exchange) at $66.5bn.
Coinbase is the first major cryptocurrency company in the US to go public. It was launched in 2012. Coinbase now conducts transactions in bitcoins and about 50 other cryptocurrencies. Most transactions on Coinbase are held in bitcoin. These currencies have risen by more than 800% and 1,300% respectively over the past year, causing Coinbase's value to skyrocket, CNBC notes. As of the end of the first quarter, 56 million retail investors were transacting on Coinbase. By the company's own estimate, it controlled about 11% of the entire cryptocurrency market at the end of last year.
source: forbes.com
Coinbase's market capitalisation at the peak of trading was 13 times the valuation made by investors in the last round of investment in Coinbase in October 2018: the cryptocurrency exchange then raised $300m and was valued at $8bn. Coinbase has also surpassed two US stock exchanges combined in value: Nasdaq is capitalised at $26bn and Intercontinental Exchange (the parent company of the New York Stock Exchange) at $66.5bn.
Coinbase is the first major cryptocurrency company in the US to go public. It was launched in 2012. Coinbase now conducts transactions in bitcoins and about 50 other cryptocurrencies. Most transactions on Coinbase are held in bitcoin. These currencies have risen by more than 800% and 1,300% respectively over the past year, causing Coinbase's value to skyrocket, CNBC notes. As of the end of the first quarter, 56 million retail investors were transacting on Coinbase. By the company's own estimate, it controlled about 11% of the entire cryptocurrency market at the end of last year.
source: forbes.com
