Hello crypto world!
Today we woke up with a huge update from the crypto ecosystem: starting on april 14th coinbase will go live on nasdaq market! COINBASE is one of the major crypto onramp/exchange with over 40 millions of users all around the world. It could be valued between 60 and 100 billions$.
Coinbase is gonna directly sell 114.9 millions shares on stocks market.
Coinbase is also the "father" of USDC stablecoin which is a coin backed by a dollar deposit, with over 10 billions of marketcap.
I'm still waiting for coinbase to release the results of the first quarter 2021 to try to give it a correct price.
On the 6th of April they re gonna make a conference showing 1st quarter results and targets for the current year.
A capitalization of 100 billions $ would be such a good news for the crypto world.
Just to give an example:
Goldman Sachs(one of the biggest and oldest bank in usa) mcap is 111 billions $
Airbnb mcap is 112 billions $
American express mcap is 113 billions $
Blackrock mcap is 115 billions $.
Is coinbase(coin) a good invest? Can it pump as soon as it goes live on nasdaq?
This for sure is the biggest question that every investors is doing himself.
On one side if you are in crypto market you must know the meaning of FOMO. The fear of missing out is something strictly related to the crypto world which is leading so many projects to unbelievable prices. In the last months some of the bigger world's industries are becoming crypto friendly and trying to be the first player in doing something with cryptocurrencies. (Tesla,square,paypal)
So this feeling could transform coinbase listing in a gold rush.
On the other side if you are into stocks market(also true in crypto!) you must know the meaning of buy on rumors sell on news. This means that the price is moving before official news anticipating them. So coinbase price could go live with an already high valutation.
History always teach us something. What happened in the past?
I still remember two really famous stocks going live on market: Facebook and Alibaba.
Facebook had an initial drop till 17/18$,after that it started a parabolic growth.
Alibaba had a couple of growing months before dumping until 57/58$. From that point the price did a 400% gain.
CONCLUSIONS
I'm gonna follow relaxed the price fluctuating on the 14th of april before buying COIN. I'm a crypto enthusiast and i hope this will bring more power to our world but i don t want to fall into fomo because i know stocks ,even more on nasdaq, have always a very high price on earnings ratio.
Operating in stocks usually have higher fees and commission than crypto. This would make hard to get a good dca(dollar cost average).
What about you? Are you gonna buy coinbase on nasdaq as soon as possible?
Thanks for reading and have a nice day!
Stay crypto
Hodl
