The impending listing of the Coinbase Global Inc crypto-trading platform on Wednesday is likely to be closely monitored by investors both inside and without the crypto-industries following the news of Bitcoin and other Kryptos.
The original cryptocurrency reached a new high of approximately US$62,857 on Tuesday’s late morning trade in London. By midday, it fell slightly, but rose 4.8 percent at 62,779 dollars.
Ether also reached a record high of some US$2.216 on Tuesday morning, the second-most popular crypto on the market.
Although the surge in value in Bitcoin was not directly linked to the forthcoming Coinbase listing, the trend suggests that most people anticipate a successful company debut, possibly driving even more interest in the industry triggered by Bitcoin’s meteorological increase at the end of last year.
Coinbase allows customers to purchase, sell, send and exchange cryptos including Bitcoin, worth around US$90 billion in private stock trading at the beginning of March.
Having replied last week that active users on the platform have risen to 2.8 million by the fourth quarter of 2020 to 6.1 million, and verified users with Coinbase accounts have jumped to 56 billion of 43 million. His future, as a publicly tradable company, was also boosting.
In the meantime, the company reported a total of US$1.8 billion and net incomes in the period from around US$730-US$800 million. In addition, it had a top USD 335bn in trading volumes and a swell in the fourth quarter of last year’s assets on its platform to USD 223bn, from USD 90bn. Some 122 milliards of US$ came from institutions, showing that the company has succeeded in attracting professional cash to the crypto markets.