Futures on Kraken pre-IPO shares — one of the largest U.S. crypto exchanges Just a week ago Coinbase, the cryptocurrency exchange, began trading at a record high. But we offer you to invest in its major rival — Kraken. Now UTEX has futures contracts on this company’s shares that also has intentions of going public.
This year the crypto exchange shows a stellar performance. In the Q1 of 2021, the number of new users on Kraken jumped four times, as compared to the 2nd half of 2020. In addition, spot trading volume in Q1 grew 1.5 times over spot trading volume recorded throughout 2020 to reach a record level of $160 billion. In comparison, trading volume on Coinbase was $335B in Q1 2021.
Kraken CEO said that the crypto exchange would “probably” go public through a direct listing later this year or in early 2022.
Kraken’s projected market capitalization will reach $30-40 billion on the public market, which is at least twice as much as its current valuation.
