Cryptocurrency Exchange Coinbase Debuts with Market Cap Surpassing $100 Billion

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Published April 15, 2021

Cryptocurrency exchange Coinbase Global Inc. made a historic debut on the Nasdaq, briefly reaching a market valuation exceeding $112 billion on its first trading day. The stock later retreated below its opening price amid a broader tech sell-off, while Bitcoin also pulled back from record highs.

Key Highlights of Coinbase’s IPO

Why Coinbase’s Listing Matters

  1. Crypto Adoption: Bitcoin and Ethereum accounted for 56% of Coinbase’s 2020 trading revenue, underscoring their dominance.
  2. Nasdaq’s Win: Coinbase chose Nasdaq over NYSE, partly due to the ticker symbol “COIN.” This marked Nasdaq’s largest direct listing to date.
  3. Valuation Leap: From an $8 billion valuation in 2018 to $86 billion at closing, reflecting explosive growth in crypto markets.

👉 Explore how crypto exchanges like Coinbase are reshaping finance

Market Reaction

FAQ Section

Q: How does Coinbase make money?
A: Primarily through transaction fees (56% from Bitcoin/Ethereum trades in 2020) and custody services.

Q: What’s a direct listing?
A: Unlike traditional IPOs, direct listings allow companies to go public without raising new capital or using underwriters.

Q: Why did Coinbase choose Nasdaq?
A: Preferred the “COIN” ticker and Nasdaq’s tech-friendly reputation.

👉 Discover more about Bitcoin’s market trends

Final Thoughts

Coinbase’s debut signaled mainstream acceptance of cryptocurrencies, despite short-term volatility. Its success hinges on continued crypto adoption and regulatory clarity.

Keywords: Coinbase IPO, cryptocurrency exchange, Bitcoin, Nasdaq, direct listing, market cap, Ethereum, crypto adoption.


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