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Golden Observation丨Coinbase is going public soon: Is it worth it to be the first "crab" in the encryption field?



Golden Finance Blockchain News April 14 As the most important part of the cryptocurrency ecosystem, cryptocurrency exchanges play an important role in the market. As the largest compliant cryptocurrency exchange in the United States, Coinbase will land on the Nasdaq market today (April 14). As the first "crab eater" in the cryptocurrency field, Coinbase's listing is undoubtedly a "boosting shot" for the entire cryptocurrency exchange market, and it can even be said to be a milestone and a milestone in the development of the entire cryptocurrency industry. A new starting point is of extraordinary significance to the entire industry.

According to documents previously disclosed by the U.S. Securities and Exchange Commission (SEC), Coinbase’s total revenue in 2020 is more than double that of 2019, reaching $1.3 billion; in terms of market value, as of December 31, 2020, Coinbase’s Class A There are 21,035,491 issued ordinary shares, 164,950,620 issued Class B ordinary shares, plus 114,850,769 Class A ordinary shares to be publicly issued, a total of 300,836,880 shares, if the weighted transaction based on the non-public trading of Class A shares in the first quarter Calculated at a price of 343.58 US dollars, then the market value of Coinbase's non-public trading market has exceeded 100 billion US dollars.

Golden Noon News | March 17th at noon important developments at a glance: 7:00-12:00 Keywords: Beijing, House of Representatives, Toyota, Argentina

1. Beijing's "regulatory sandbox" will issue detailed regulatory rules. After the application of "out of the box", it must be operated by a licensed institution;

2. U.S. House Worker Relief Bill Could Stabilize Bitcoin and Stock Markets

3. The blockchain laboratory established by Toyota Motor will further explore blockchain technology;

4. Argentina's blockchain-based Official Gazette website was hacked;

5. Media: Li Ka-shing is in the currency circle, Bill Gates is in the chain circle;

6. Former Vice President of the Bank of China: Bitcoin can only be a digital "virtual gold" or "virtual asset";

7. Dazhong Daily: Blockchain technology can optimize the current disease control and early warning system;

8. The game maker Atari announced the start of issuing virtual currency;

9. BTC is now at $5,296, an intraday increase of 3%, and the top ten mainstream currencies generally rose. [2020/3/17]

In fact, the listing of Coinbase is estimated to be one of the largest new public companies in the technology industry in 2021, and it will also have a huge positive impact on cryptocurrency market investors and blockchain technology advocates. Since the news came out, it has been a major positive for the entire cryptocurrency exchange industry, especially the centralized cryptocurrency exchange (CEX). After all, a leading cryptocurrency exchange will be directly listed and will bring a benchmarking effect. And if nothing else, the market value of Coinbase should rise after listing, which will further push the bull market forward.

Golden Noon News | List of important developments at noon on December 10: 7:00-12:00 Keywords: Li Lihui, Ethereum upgrade, OKEx, Marshall Islands, SOV

1. Li Lihui: I am more optimistic about the legal digital currency or the digital currency of financial institutions.

2. After the Istanbul upgrade, the number of Ethereum transactions fell to the lowest level in nearly a year.

3. SOV, the national digital currency of the Marshall Islands, is being actively developed, inspired by Block.One.

4. The Ethereum 2.0 development team officially released the Lighthouse public testnet.

5. OKEx released the OKB November report: the total market circulation is 300 million, and the OKChain public chain has completed the final test.

6. MATIC plummeted, and the project party transferred 160 million tokens from the foundation contract within one month.

7. He Haifeng, Academy of Social Sciences: New standards may be formed during the transformation and upgrading of currencies, which need to be followed up by supervision.

8. The 2019 Candidate Words for Chinese Inventory was released, and the blockchain was shortlisted.

9. Qingdao Daily: Virtual currency is not equal to the blockchain, investment beware of being routine. [2019/12/10]

However, according to previous relevant news, several mainstream cryptocurrency exchanges that compete with Coinbase have no plans to go public at this stage. However, the market is changing rapidly, and don’t be surprised if there are subsequent cryptocurrency exchanges that follow Coinbase to choose to list. After all, in terms of profitability alone, "traditional" centralized cryptocurrency exchanges are not inferior to Coinbase, and their profits are also considerable. Therefore, in the case of equal overall strength, these cryptocurrency exchanges may usher in a wave of leapfrog development with the help of Coinbase, a shareholder.

Analysis| Golden disk: BTC’s proportion in the total market value of digital assets has risen steadily: Comprehensive analysis of the golden disk: In the past three months, the proportion of BTC in the total market value of digital assets has risen steadily, the proportion of ETH has dropped significantly, and other currencies The change in , indicating that BTC is still the first choice for investment in digital assets, but the investment enthusiasm for ETH is decreasing. [2018/8/9]

Different from Coinbase, the top cryptocurrency exchanges have basically issued their own platform coins, and most of the platform coins are in the hands of the exchanges themselves. They can use the platform coins as cash flow for investment to increase operations In terms of flexibility, at the same time, the value-added part of the platform currency can be calculated as profit to improve the profitability of the exchange. In this case, once the "listing effect" ferments, this positive trend will undoubtedly be passed on to the platform currency, and form an immeasurable positive impact, thereby further promoting the rise in the value of the entire platform currency market. Therefore, from the current point of view, the most direct effect brought by the listing of Coinbase is to benefit the platform currency. Although there is still a certain distance from the market value of Coinbase in terms of the market value of the platform currency, the gap is not a "bad thing", which means that even if The platform currency is currently rising fiercely, but there is still a lot of room for growth.

Jinse Finance live report Cao Huining, founder & CEO of Usechain: multi-centralization attributes help blockchain technology enter the public: Jinse Finance live report, at the 2018 Tokyo Fenzhi Summit, China Europe Business School, Usechain founder & CEO Cao Huining conducted a " The only real-name chain in the world that has a consensus algorithm revolution" as the theme of the speech, he pointed out: large mining pools occupy a lot of resources, which runs counter to the principles of blockchain technology, so we need to carry out identity authentication. All people can effectively exchange value, but many authoritative organizations have to collect service fees. With a multi-centralized blockchain, the blockchain can truly enter the public. [2018/5/22]

Just before the listing of Coinbase, the main blockchain concept stocks in the US stock market came from mining companies, but judging from last year's financial data, these companies are still not comparable to Coinbase in terms of financial performance, even those leading mining machine companies It's not as good as Coinbase's performance either. In addition, Bitcoin has broken through the resistance level of 60,000 US dollars many times this year, and it has been able to basically maintain the range of 58,000 to 60,000 US dollars. Therefore, from the perspective of the overall trend, the duration of this bull market is relatively longer. If Coinbase can follow the trend and go public as scheduled, it is expected to capture a better market response, and may even become a weather vane for the capital market to "test" the encryption market.

Interestingly, as the first listed cryptocurrency exchange, Coinbase also mentioned the address of Satoshi Nakamoto in the prospectus form in order to show respect to the founder of the crypto economy, expressing its recognition of "Satoshi Nakamoto". However, in the field of cryptocurrency, the concept of "Satoshi Nakamoto" is actually to build a global ledger that records the truth and subvert the monopoly of centralized institutions. From this perspective, the listing seems to be somewhat contradictory to the original intention of cryptocurrency.

It is undeniable that listing is indeed a way to quickly raise funds, but it exists more in the traditional field. Compared with cryptocurrency exchanges that can issue platform coins, the financing model is more diversified, at least from the current point of view However, listing is not the only direction in the development path of "traditional" centralized cryptocurrency exchanges. Although Coinbase is "the first to eat crabs", from the perspective of the entire cryptocurrency industry, at least at this stage, there will not be too many exchanges to follow up. In fact, some cryptocurrency exchanges have already begun to lay out the entire ecosystem of CEX and DEX, such as exploring decentralized business and product solutions, hoping to use the "dongfeng" of Coinbase's listing to promote their own business development.

It has to be said that the advantages of the successful listing of Coinbase this time outweigh the disadvantages, at least it shows that this "exchange" for trading digital assets has been recognized by the mainstream financial market, and it has further increased the trust of users and the industry, which in turn has attracted more people to explore The cryptocurrency market, finally mainstreaming cryptocurrency. In addition, since the listing of US stocks must be approved by the US Securities and Exchange Commission, this means that the door has been opened to cryptocurrency exchanges from a regulatory perspective.

After the listing of Coinbase, it will undoubtedly drive the improvement of the overall level of cryptocurrency exchanges. If it performs well, more exchanges will follow this broad road, and the "traditional" centralized cryptocurrency exchanges will usher in a new wave of leapfrog development.

Part of this article comes from Yahoo Finance


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