Today, Wednesday, April 14 at 3:30 pm, Nasdaq opens with this new Coinbase stock (COIN).
As some of you may have heard, Coinbase is going public. So if you look at the stock market, you are going to see this name come up more often from now on.
The fact that Coinbase is going public has been causing a lot of attention for a long time. So this is very positive for the crypto market in general.
Coinbase is the first of its kind to pull this off. More may follow in the future.
The concept of FOMO (Fear Of Missing Out) is probably already familiar to you. Not only in the crypto market, but also in the traditional stock market this term is not unknown.
Considering Coinbase is the first of its kind, the price might just rise quickly.
The reference price is determined by standard regulation, which is currently valued at $90-100 billion (€75-83 billion).
How can you buy the Coinbase (COIN) stock?
So as of this afternoon, as mentioned, you can buy the Coinbase (COIN) share.
But there is also another option: Binance. Pretty soon after Coinbase becomes available on the Nasdaq, Binance will offer a digital version on their platform.
This means at the same time, that you don’t necessarily have to buy a whole share, but also small pieces of it, just like you can do with other cryptocurrencies.
Coinbase, however, is not the only “tokenized share”, that Binance offers. Indeed, earlier this week they opened this “market” on their site with Tesla (TSLA). This one reached a volume of $6.7 million in the first few days.
Since the launch of Coinbase in 2012, they have developed into one of the largest cryptocurrency exchanges in the world. In the first quarter (Q1) of 2020, they had revenue of $190 million. In Q1 of 2021, this has already risen to $1.8 billion with accompanying profits of $800 million. On Coinbase Pro alone, more than $3 billion is traded per day.
It is thought that with the addition of Coinbase to the traditional stock market, more people will also flock to crypto. Not only because the crypto market is more volatile, but also because many people see this as the future.
Conclusion: these developments are guaranteed to bring more attention to crypto in general, which we are obviously very happy about.
Interested in trading on Coinbase? You can register a free account here.