Cryptocurrency exchange Coinbase will be conducting its own Initial Public Offering (IPO). Following a successful year that saw the exchange generate over $1.8 billion in revenue. BiC looks at the bullish and bearish scenarios of the potential Coinbase IPO.
The market has historically witnessed a lot of fundraising events, such as ICOs and IEOs. But the arrival of IPOs onto the crypto market is a significant development being led by none other than Coinbase.
Coinbase is one of the largest digital assets exchanges in the industry. There is a reason why such significance is being placed by analysts and market players alike on the decision of the Coinbase management team.
The term “Coinbase effect”, which signifies significant price boosts for assets immediately after their listing therein. This may well convert not only onto the exchange’s own shares, but on the market as a whole.
First crypto company to go public
Coinbase is the primary gateway of a significant percentage of all crypto activities on the market. Coinbase’s essential legalization on the traditional market as a share-traded entity cannot be downplayed.
The question of price, is now up in the air as investors, both traditional and crypto, are salivating at the prospect of owning a share of the major exchange.