Golden Outpost | Coinbase, the first encrypted stock, will be listed tonight with a reference price of $250

The first share of the digital currency exchange is finally coming.

Coinbase is planning a direct listing today - April 14. Last night this morning, Nasdaq set the reference price for Coinbase Global Inc (COIN) at $250 per share. This is the first listed exchange in the field of digital currency, and it will also be the first direct listing company listed on Nasdaq.

Jinse Finance Market Report丨 BTC is sideways, and local bulls are weak: According to the Huobi market, BTC accelerated its decline yesterday afternoon, reaching as low as 9047USDT, and then fluctuated sideways. The local price hovered around 9120USDT in the afternoon, and the bulls were weak. The MA5 pressure level on the daily chart constitutes a suppression and continues the downward channel. At present, it has fallen for 4 consecutive days or there may be repair actions. The 4-hour chart failed to stand firmly on MA5 after shock consolidation, and the pressure of the moving average MA30 in the 1-hour chart continued to sideways restrict the bulls. As of 18:30, the specific performance of mainstream currencies is as follows: [2020/7/17]

It should be noted that the reference price is not the issue price of the stock, but the performance benchmark when the stock starts trading on the exchange on April 14. The opening public price will be determined by buy and sell orders that Nasdaq collects from brokers.

Analysis|Gold disk: VET/USDT short-term rebound: Golden disk comprehensive analysis: VET/USDT rebounded in the short-term, with an increase of 3% within 1 hour, but the upper part is still suppressed by multiple resistances, and the short-term trend has not changed. Pay attention to the control of trading risks[ 2018/8/14]

According to the information released by Coinbase on April 13, the company has 130.7 million Class A shares in circulation. After full dilution, the company's outstanding shares are 261.3 million shares. Based on this estimate, after fully diluting the stock, the market value of Coinbase, the "first encryption stock", is about $65.3 billion.

Golden Finance exclusive analysis Banks refuse to provide account services for cryptocurrencies due to hedging demand: Golden Finance exclusive analysis, Hapoalim, the largest bank in Israel, was forced by the Tel Aviv District Court to accept the transfer of funds generated by Bitcoin sales. A similar situation has emerged in South Korea, where local banks previously refused to provide virtual account services to most cryptocurrency exchanges. Why are banks unwilling to provide account services for cryptocurrency exchanges? This is because, as traditional financial institutions, banks tend to avoid risks when making decisions, and cryptocurrencies have risks in anti-money laundering due to their anonymity and other reasons. This is also the reason why banks are reluctant to accept accounts related to cryptocurrencies. However, with the development of cryptocurrencies and the improvement of exchanges in anti-money laundering, more and more banks have begun to provide account services for cryptocurrencies. [2018/5/9]

This figure means that Coinbase's market capitalization will be 2.5 times that of the Nasdaq exchange, and close to the market capitalization of the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (ICE). As of Wednesday’s close, Nasdaq’s market capitalization was about $26 billion, and ICE’s was about $66.8 billion.

In addition, according to the latest financial report data, Coinbase achieved revenue of US$1.8 billion in the first quarter of 2020, a sharp increase of 844% from US$190.6 million in the same period last year, and surpassed last year's annual revenue of US$1.3 billion. From the perspective of the cryptocurrency market, Coinbase, as a digital currency trading platform, will be directly affected by the price of mainstream cryptocurrencies. The higher the price of mainstream cryptocurrencies, the more active-zce the trading volume, and the revenue of Coinbase will increase.

Just the day before Coinbase went public, the prices of BTC and ETH both hit record highs. BTC broke through the $63,000 mark for the first time in history, and ETH rose above $2,300 for the first time.

Founded in 2012, Coinbase is the first encrypted digital currency exchange with a formal license in the United States. It was founded by former Airbnb software engineer Brian Armstrong and is also the current CEO of the company, with a shareholding ratio of 21.7%.

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