Coinbase IPO will change the stock market
Today, coinbase went public with an IPO starting at $381. This is the first crypto-exchange company to be publicly traded in the US and other parts of the world. This opens new doors for cryptocurrency as it began to be integrated into the stock market as well. It no longer a separate volatile entity of the stock market but now looked like a security investment in stable cryptocurrencies, i.e. bitcoin.
Coinbase is the largest exchange of cryptocurrencies in the world and is continually adding more coins and tokens to their list. According to Bloomberg, coinbase will be worth $65.5 billion. For an exchange site, that’s momentous, even PayPal isn’t worth 5% of that.
Exchanges like Binance and etorro, are among the most used platforms for trading alt-coins and tokens alike. If you are a crypto dev, these platforms are a gold mine. Binance in particular is the 2nd most used trading platform in the world for cryptocurrency and even sporting its own token and giveaways.
Institutionalized companies like Robinhood and Webull in recent years have supported the trade of cryptocurrencies on their platforms but to a lesser extend. Crypto wallets like voyager, crypto.com, and uniswap are also on the rise following the NFT boom. This year was the biggest upset for cryptocurrency and Coinbase’s IPO is a huge leap forward as more companies start to accept the currencies as a form of payment.