​​Coinbase Goes Public This Week - What To Expect? As US-base | Gimme The Coin

​​Coinbase Goes Public This Week - What To Expect?

As US-based major crypto exchange Coinbase going public in two days, many industry insiders see it as a bullish event for a wider crypto space, but also one that may eventually lead more people into decentralized finance (DeFi). Meanwhile, an investment research firm placed the exchange's valuation more than 80% lower than it's expected to be.

As reported, Coinbase is set for a direct listing on Nasdaq under the symbol COIN on April 14.

Because volume and price tend to go hand-in-hand, argued Bloomberg, Coinbase’s transaction revenue, its largest segment, "could remain susceptible to cryptocurrency market gyrations." Kevin Kelly, Global Head of Macro Strategy at crypto research firm Delphi Digital, warned that Coinbase’s first week of trading could be very volatile.

"Coinbase’s stock price will provide another gauge of institutional interest and sentiment towards crypto at large. However, COIN will also be subject to market risk that may or may not impact crypto asset prices, so it won’t serve as a perfect proxy," he wrote in a report last Friday.

There is a number of potential results that industry insiders see coming out of the exchange's move to go public, but many seem to agree that, as Kadan Stadelmann, Chief Technology Officer (CTO) of blockchain solutions provider Komodo (KMD), said in an emailed commentary, "Coinbase is an important gateway to getting started in the crypto sector."

Samantha Yap, Founder and CEO at PR agency specializing in crypto, blockchain, and fintech YAP Global, opined that this listing is going to further build credibility and legitimacy for the crypto markets which have already seen "huge institutional interest and flows" since the year began.

Of a similar opinion is Emiliano Grodzki, CEO of Bitcoin mining operation Bitfarms, stating that crypto is not a new thing anymore, but "the hot new asset class for equities," adding:

"The Coinbase direct listing is just the latest demonstration of an explosion in legitimacy and trust in the crypto sector as a whole, among both institutional and retail investors."