IPO Watch: Coinbase is rocking -- but is it enough?
February 17, 2021
In regard to trading volume, Coinbase is the largest cryptocurrency exchange in the United States.
Its market dominance is evident when viewing the current level of consumer mentions: The number of consumers talking about buying, selling, and storing cryptocurrency with Coinbase has been steadily trending higher: +647% YoY in the past month.
Interestingly, this huge increase in usage mentions is lower than the overall boom in consumer interest in Bitcoin, suggesting that Coinbase is likely starting to lose market share as more and more competent competitors enter the playing field.
Coinbase has plans to go public within the next few months. Shares currently trading on the Nasdaq Private market put the company’s valuation at ~$77 billion.