Coinbase's $ 86 billion worth has been greatly exaggerated by misleading media

Coinbase shares closed at $ 327 when they entered Nasdaq, giving the crypto exchange an initial market cap of $ 86 billion, fully diluted. Refers to the total number of ordinary shares available and available for trading on the open market after all possible sources of conversion, fully diluted. However, some believe that this metric produces an inaccurate valuation as it includes options and limited stocks and overestimates the number of stocks used in valuation. As the IPO approached, some analysts expected Coinbase to reach a value of $ 100 billion. Even though the closing score was less than one million kilometers, it still remained below expectations. The Coinbase listing is a turning point for the cryptocurrency industry. Coinbase is the first major crypto company to test the US public market. The IPO was hailed as a turning point in traditional cryptocurrency. Analyst Dan Ives wrote: "Coinbase is a fundamental part of the crypto ecosystem, and we believe this will be a barometer of the growing adoption of Bitcoin and crypto in the coming years." The COIN opens for $ 381 at the Nasdaq Global Select Market. At first, buyers pushed the price up to $ 429, but as the day progressed, the bears quickly took over to push the price down. Finished the session at $ 327. Source: COINUSD on TradingView.com The company announced some impressive figures before it went public. It peaked in revenue and doubled the number of active users per month compared to the previous quarter. But market research firm New Constructs had already set the alarm for a serious overvaluation of $ 100 billion. They believe that such a high valuation will not take into account future pressures on trading margins. The company has little or no chance of meeting future profit expectations due to its ridiculously high valuation of $ 100 billion. While the actual valuation is expected to be $ 65 million, Coinbase's fully diluted valuation was $ 86 billion, roughly in the midst of pre-release expectations. Read more

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