The capitalization of the crypto exchange Coinbase approached $100 billion

After a direct listing on Nasdaq, the capitalization of the Coinbase crypto exchange came close to $100 billion ($99.6 billion) right at the opening of trading, writes CNBC.

Coinbase quotes started at $381 per security, while before the listing, Nasdaq gave investors a valuation of $250. Excluding options and restricted shares, the company's capitalization is about $ 80 billion, according to the full assessment, it is among the top 100 US companies.

By 21:00 Moscow time, the quotes of the company's securities fell below the opening price, during trading they exceeded $420.

Founded in 2012, the crypto exchange works primarily with bitcoin and ethereum. Now it is the largest cryptocurrency platform in the US with 56 million users (doubling in a year and a half). Its financial growth was unprecedented due to the rise in the price of tradable assets: in the first quarter of 2021, revenue increased nine times (yoy), to $1.8 billion. For the whole of 2020, Coinbase generated $1.8 billion.

Bitcoin quotes on Wednesday approached $65,000, the capitalization of this cryptocurrency is close to $1.2 trillion. The capitalization of ethereum is estimated at $250 billion.

Find out more

The Bell detailed the history of Coinbase from birth to market dominance.