introduction
introduction
Recently, the currency circle has ushered in the most milestone event. The well-known digital currency exchange Coinbase landed on NASDAQ on April 14, with the stock code COIN. This incident means that the digital currency industry has gradually been accepted by the traditional financial market, which has epoch-making significance for the development of digital currency in the future.
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The largest exchange in the United States - Coinbase
The current competition in the digital currency exchange industry is very fierce. Many exchanges were created when transaction mining was popular, and now most of them have closed their doors and run away. In the complex market environment, the traffic in the currency circle is gradually moving closer to the top exchanges. This is both an opportunity and a challenge for top exchanges. The opportunity is that the growing traffic brings considerable economic benefits, while too much traffic will put pressure on the server, and hardware and security technologies must also undergo multiple tests.
Coinbase stood out in the fierce market competition, and won the recognition of players by virtue of its security technology advantages and efficient services, consolidating its position in the industry. In the comprehensive strength ranking list of non-small global exchanges, Coinbase has always been in the top three positions.
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Near the listing, Coinbase announced its first-quarter financial report on April 6. In the first quarter, Coinbase’s revenue jumped from US$190.6 million in the same period last year to US$1.8 billion, an increase of nearly 10 times, and its net profit ranged from US$730 million to US$800 million. between. Such an impressive performance has naturally attracted the attention of many investors, and the listing valuation of Coinbase has also risen again and again. The highest price of Coinbase on the first day of listing on Nasdaq was US$429, and the closing price was US$328, with a valuation of over US$65 billion.
As the first stock listed on Nasdaq by the currency exchange, it has already formed a double effect of absorbing money and attracting attention. This time, Coinbase chose the direct listing plan, and did not underwrite the underwriting to the underwriters. There is no lock-up period for stock holders, and the price is completely determined by the market. I believe that under the impressive performance in the first quarter, and with the continued interpretation of the bull market, holders will definitely be reluctant to sell their stocks, supporting the rise of Coinbases stock price.
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Unlike Huobi Technology and Okey Cloud Chain, which have already been listed on the Hong Kong stock market, Coinbase directly applied for IPO listing this time, while Huobi Technology and Okey Cloud Chain achieved the purpose of listing through backdoors. It can be said that the direct IPO listing of Coinbase has opened a new era for companies in the currency circle to go public, and it will serve as a star model for the subsequent listing of more companies in the digital currency industry.
After logging into the Hong Kong stock market through the back door, the stock prices of Huobi Technology and Okey Cloud Chain have ushered in a surge without exception, and they have experienced a wave of doubling. Currently in an unprecedented bull market in the currency circle, Coinbase’s choice to go public now is undoubtedly a good time, place and people, and it is reasonable for its stock price to skyrocket after the listing. In terms of valuation, Coinbase has far surpassed Huobi Technology and Okey Cloud Chain. After all, the valuation of Coinbase is already at the level of 100 billion, while the valuations of Huobi Technology and Okey Cloud Chain are 6.7 billion and 35 billion respectively. billion Hong Kong dollars.
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The issue of whether Coinbase will issue coins has always been a topic of concern in the currency circle. For a platform mainly engaged in digital currency transactions, it is a matter of course to issue its own blockchain tokens. In fact, although Coinbase has successfully conducted an IPO, it has not given up its plan to sell its own platform digital tokens. According to foreign media sources, a document submitted to the US Securities Commission (SEC) this time shows that Coinbase may raise more funds to support its business expansion, and this method of fundraising may be based on block in the form of chain tokens. Based on this, we have reason to believe that Coinbase has not completely given up its currency issuance plan.
Looking at the current major exchanges, they have already released their own platform tokens, and the platform tokens of many platforms have been enthusiastically sought after. The current increase of Binance’s platform currency BNB has reached an astonishing 2,700 times. As a top trading platform, once Coinbase sells its platform currency, its popularity and wealth effect can be imagined. At the same time, if Coinbase issues coins, Coinbase will become the first company in the United States to combine ICO and IPO, and it will set another record.
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Although Coinbase has successfully passed the IPO and is about to go public, it is a digital currency company after all, and there will still be a lot of regulatory pressure in the future. In the recent Ripple lawsuit that has been hotly discussed in the circle, Coinbases actions also let everyone see its concerns about regulation. The SEC filed a lawsuit against Ripple on the grounds of illegal securities, and Coinbase, as an exchange, responded to the SEC immediately and delisted the Ripple token XRP, demonstrating its determination to embrace regulation.
From this point, we can also see that Coinbase is still more worried about the impact of regulation on its business. Perhaps it is also because of concerns about regulation that Coinbase will temporarily shelve its own currency issuance plan.
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Coinbase has incubated many high-quality projects
Coinbase is not only an excellent digital currency trading platform, but also has a unique insight in the investment of blockchain projects, and has incubated many excellent currency circle projects. In the market, the investment concept sector of Coinbase has always been sought after by investors, and the effect of making money is overwhelming. Let’s take a look at two excellent projects invested by Coinbase and the wealth effects they bring.
one. near
NEAR Protocol is a highly scalable base protocol that ensures fast enough support for DApps on mobile devices. NEAR is the native token in the protocol, which can be used as a fee for processing transactions and data in the network. At the same time, it can also be used to run network nodes by staking NEAR, and can also be used to vote and participate in network governance.
With its project advantages, the NEAR protocol has successfully obtained investment from Coinbase and a16z. With the support of capital, NEAR has developed rapidly, and has made achievements in the solution of cross-chain, side-chain and Ethereum layer2 expansion solutions. The price of NEAR tokens is naturally rising. Up to now, the price of NEAR tokens has increased by 165 times, and the effect of creating wealth is obvious.
two. MATIC
MATIC tokens are used for equity betting in the network, and at the same time participate in the proof consensus mechanism of the side chain network. As of now, MATICs cumulative rate of return has reached 135 times, and investors have benefited a lot.
Coinbase also invested in many star projects, such as FLOW, DODO, etc. I won’t go into details here, I suggest that you can go and see for yourself, after all, they are all wealth codes.
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Coinbase——the ultimate goal of the currency circle project party
In line with the attitude of being responsible to users, Coinbase is very strict in the review of the project side of the currency, and must meet certain requirements from the technical foundation to the security level. It is precisely because of the strict control on the currency listing that Coinbase has a high brand effect, and the project tokens listed on Coinbase have achieved good performance.
Conflux Network is a scalable decentralized blockchain network based on a special directed acyclic graph (DAG) consensus algorithm called tree graph, designed to achieve high throughput and fast confirmation of transactions. As early as October 2020, it was reported that Coinbase Custody was considering providing custody services for 39 encrypted assets such as Conflux. Recently, a group photo of Conflux staff and Coinbase executives has been leaked. This series of news shows that Conflux and Coinbase have been in constant contact, and it also makes everyone look forward to the domestic blockchain project Conflux. Conflux is representing the domestic blockchain project to the international perspective.
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