Posted on 02/21/2021 5:44:08 PM PST by amorphous
Deep-pocketed investors appear hungry for Coinbase equity ahead of the crypto exchange's long-awaited direct listing.
As per data compiled by The Block, the average clearing price for shares on Nasdaq Private Market continues to tick higher since the first secondary sale four weeks ago. The most recent cleared price was $373 a share, which would imply a valuation of about $100 billion.
That's an increase from the first average cleared price of $200 in January, according to data shared with The Block.
Nasdaq enables secondary offerings for Coinbase stock, a process that allows ex-employees and investors of the crypto exchange to sell their shares.
The secondaries start Monday morning and end Thursday afternoon each week. The auctioning and clearing process happens after the close and results are posted Friday morning. The identities of the bidders are not clear at this time, but a source said that they are likely large investment firms.
Sizable resting bids came in over the course of the most recent secondary offering. To be clear, buyers don't need to pre-fund their account and can bid at whatever price they want. Data from the top of the order book shows two large multi-million dollar bids at $350 and $450 a share.
It's not clear which of these bids were filled (typically about 100,000 shares match per secondary).
AMEN AMEN AMEN!!!
same here but when there is an issue almost impossible to get it resolved- takes a long time
bookmark
Roger that. I keep asking the bitcoin fanboys here what is the maximum theoretical transaction rate for Bitcoin and always get a blank stare and crickets chirping. People complaining about the Coinbase servers freezing when the price spikes don't understand that rate limit is what they are getting caught in and a lot of people try to trade bitcoins. It's a Bitcoin FATAL DESIGN FLAW that will cause it to crash and burn as more people start using it. Bitcoin was a ctypto nerd's experiment and never designed for real world transaction rates.
There is something called stable coins that are tied to the USD and backed by tangible assets aka money.
Seems weird investing in what amounts to electronic data but when you think about it, most USD is data. If you buy Soybean futures, you never actually posses any soybeans.
Have you looked at Nimiq?
They have NIM as a coin but their main efforts are web browser based crypto wallet and supporting apps called dAPPS. Their goal is to make crypto so simple that anyone can use it. People use their browser for financial stuff all the time already. Online banking or bill pay etc so it’s familiar and trusted.
Their development has been slow but steady and they haven’t really marketed themselves yet because they want to get the software features finalized which they’re getting close to doing. They’ve got a WordPress/WooCommerce plugin that will allow website owners to accept NIM, BTC and ETH. I plan on buying a little of each myself. Mainly BTC and ETH with a little NIM thrown in.
I’ve been educating myself on crypto for the past few days. Plan on getting a Ledger hardware wallet if I get into it enough.
So if you are really holding and trading US dollars, what's the point for paying extra in fees to do that?
Thank you very much for your kind explanation. I won’t be buying any but at least I have a clue.
Dan
Cryptocurrency exchanges process trades in-house, without the need to access a blockchain, except for transmitting currencies in or out.
Even so, blockchain technology allows for one of the fastest transmission means for money that's possible.
When is the last time you've sent money from one bank to another, or waited for a credit card company to put money back into your account after a return? It takes days.
You've been on many threads posting many lies about many things. This is but one example.
All exchanges, including commodities and stock exchanges from time to time experience transaction delays due to increased activity. Cryptocurrency exchanges are no exception.
I’ll check into that thanks.
You are one confused little boy. Confusing the time it takes to swipe a card at a point of sale register or to transact a stock trade with the back end bookkeeping time to do settlement displays that. Those up front transaction rates are in the TENS AND HUNDREDS OF MILLIONS PER DAY.
What is the maximum theoretical transaction rate for Bitcoin?
Why?
Liar!
Inhouse bookkeeping is already being used for blockchain transactions and for all practical purposes, instantaneous.
You're either an idiot who doesn't have a clue what they're talking about, or your doing so for some malicious intent. I believe it's the latter.
The one thing I despise the most, besides the taking of an innocent life, is those who spread lies, falsehoods, and in doing so hinder the spread of information and knowledge helpful to others.
Scumbag...
You’re a screeching hysterical little boy. Why don’t you tell everyone why you claim adding or removing a bitcoin from the blockchain takes place instantaneously and yet all reputable knowledgeable sites on bitcoin say that is BALD FACED LIE. They says it takes a long time, and that time increases quite a bit at higher concurrent transaction rates. They claim it is a real problem.
Speaking from experience, not having to rely on what "they say", it's never been a problem in the decade I've been mining and trading cryptocurrency. And that before inhouse transactions which Coinbase, Paypal, Credit Card Companies, and some banks have implemented.
So why did you only recently join Free Republic to spread lies, scumbag?
Sorry little hysterical screecher, you’ve shown you don’t have any understanding of the underlying technology. You are a hack, clueless end-user. THAT IS ALL. “I clicked the button on my app two times and it works...”
Apparently, you’re not even an end-user, scumbag. You’re only relying on what “they say”, or what you were told to get on here and say. Which is the more likely scenario, given your abusive short-timer’s attitude.
Yup, you caught me. “They” are paying me to expose clueless dimwits. For you, I might even get a bonus.
Liars aren’t well tolerated on Free Republic, as I’m sure you’re personally discovering; more so in the future, scumbag.
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