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Coinbase Ready to be Listed on NASDAQ

· in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
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Coinbase is getting ready to be listed on the Nasdaq exchange starting on April 14th. This comes after several months of regulatory back and forth. The U.S. Securities and Exchange Commission (SEC) decided to finally approve Coinbase’s application to list its shares on the Nasdaq. 

Coinbase To Get Listed on NASDAQ

After filling for an IPO in December 2020, Coinbase has finally a date to get listed on the NASDAQ Composite on April 14th. The company has been operating for several years (it was launched in October 2012) and it helped millions of users to get access to virtual currencies. 

The company is recognized for being an easy-to-use trading platform and crypto exchange. Considering the crypto industry is usually difficult to understand for people outside this market, it became a very useful platform to handle digital assets. 

Coinbase was able to attract a large number of users due to how simple it was to get access to virtual currencies. In just a few clicks, users could purchase Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC) (and now many other digital assets). 

The firm was able to generate a revenue of $1.3 billion in 2020. At the same time, the company has now more than 43 million users that want to get access to Bitcoin and other digital assets. Due to this reason, Coinbase could be valued at around $100 billion as soon as it gets listed on the Nasdaq. 

Furthermore, another reason behind this large valuation could be related to how technology companies are now being valued. Several of them have been in a bull market in recent months and they have reached massively high valuations. Thus, it is expected for Coinbase to have a valuation of $100 billion and fluctuate around this value. 

In addition to it, Coinbase will be traded under the COIN ticker. This is certainly a great choice in terms of referencing the crypto market and still representing its name. Coinbase has also informed that they would not pay dividends to common stock shareholders considering the funds are expected to be used for future investment plans. 

In the future, other cryptocurrency companies could go public such as Coinbase is currently doing. Everything will depend on the entire direction of the crypto market. Nonetheless, Coinbase could be just the beginning of a trend in the crypto industry in which companies are searching for the right moment to attract traditional investors.