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Coinbase – The new blockchain currency is coming on wednesday

Coinbase – The new blockchain currency is coming on wednesday

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The rally is not over. Many investors were already looking for the first stop signals. The predictions do not seem to come true. One day before the largest IPO of a cryptocurrency platform in the US, the mood among Bitcoin investors has heated up again. The world’s best-known and largest cyber currency rose by almost five percent on tuesday to a record value of 62,7 US-$. Some experts say, that the background to the massive demand is the IPO of the crypto platform Coinbase, which was last valued at 68 billion dollars.

A few experts see the issue as a milestone for the entire digital money market. Coinbase wants to go to the Nasdaq via a direct placement on Wednesday. In this type of IPO shares are issued without the support of investment banks. There is already a tremendous impact on the whole bitcoin sector. The bitcoin stock went up by 10%.

In addition, no new shares will be issued, only existing shares. The San Francisco-based Coinbase was founded in 2012 and claims to be used by more than 43 million people in over 100 countries. Coinbase’s valuation has increased roughly thirteenfold since the end of September. In the last round of financing by private donors, the company value was given as eight billion dollars. Coinbase is now worth about as much as the Nasdaq and the London Stock Exchange combined.

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Coinbase – The new blockchain currency is coming on wednesday

In this type of IPO, which the music streaming service Spotify also chose, shares are issued without the support of investment banks. In addition, no new shares will be issued, only existing shares.

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The influence of coinbase on the whole Bitcoin market

The chances are quiet good that the whole bitcoin market is going to get more acceptance as far as the new IPO is also successful. At this moment many trader are looking for new possibilities. It seems that the bitcoin rally is not over yet. And many institutions that were still skeptical might now also turn to the new crypto currency world. The questions still is, if the older currencies will also start a digital rally in order to weaken the bitcoin hype. At this point there is no clear course to see.

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