Cryptocurrencies

Messari estimates Coinbase’s valuation at $ 28 billion – Cryptocurrencies

coinbase valuation IPO

DeFi may end up devouring CeFi but in the meantime, we are entitled to a mixture that gives a cuisine that is “bizarre” for some, interesting for others. When a centralized exchange allows the exchange of decentralized cryptocurrencies, we already see a paradox. But we can push this paradox much further when a CEX like Coinbase, major player in new finance, will be listed on traditional financial markets.

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The unicorn will soon enter the stock markets

Coinbase reportedly filed with the SEC for an IPO.

According to a tweet from Messari As of December 18, 2020, the company is estimated to be worth $ 28 billion currently.

The exchange’s daily trading volume exceeds $ 1 billion, while assets under its management are estimated to have grown from $ 7 billion in 2019 to $ 20 billion in 2020.

The 1st funding cycle carried out in 2017 enabled Coinbase to reach the status of unicorn, with a value of $ 1 billion.

In 2018, a 2nd funding cycle evaluated Coinbase to $ 8 billion. The latest data from the analytics company Hurun published in August 2020, maintain this value despite the increase in platform activities.

Goldman Sachs at the helm of Coinbase

The calculation model of Messari is based on an estimate of the different areas of activity of Coinbase like trading, custody, debit cards.

Messari indicates that the trading volume of Coinbase primarily from institutional clients and that the average assets per client would be $ 703.

Messari notes that this IPO is a major event for the exchange and for the cryptosphere. Listing is crucial for the evaluation of native tokens of exchanges and Coinbase will provide a baseline for future assessments.

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Sources close to the case indicate that Coinbase would have appealed to Goldman Sachs to conduct this IPO.

Coinbase is known for its willingness to fully comply with current regulations governing traditional finance. He took the necessary steps to move his IPO project forward. Will its entry into traditional markets convince more institutional investors to invest in cryptocurrencies? Will the future face of the new finance ultimately be that of the old? We would therefore finally be entitled to a vintage relifting, to bring the good old bad practices of finance and monetary economics up to date, without changing them.

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