Coinbase plans to enter the US stock market in late 2020 or early 2021 if it receives permission from the regulator.
With the approval of the US Securities and Exchange Commission (SEC), Coinbase will be the first US cryptocurrency exchange to enter the stock market. However, Coinbase has not yet applied to the agency. In preparation for the placement of its shares, the exchange is negotiating with investment banks and law firms, but the Coinbase management did not disclose details.
According to Reuters, to enter the stock market, the exchange is considering a direct offering rather than a traditional model of initial public offering (IPO). It means that the owners of the shares can immediately sell them – the shares will not be temporarily blocked, as happens with an IPO.
In 2018, Coinbase announced the successful closure of the financing round, during which the exchange raised $300 million, and the total market value of Coinbase exceeded $8 billion. Last summer, it became known that the custodial service Coinbase Custody manages $1.3 billion of customer assets and expects an increase in the volume of stored funds up to $2 billion.
Let us recall that in 2018, Coinbase launched the Coinbase Commerce service, which allows online stores to accept payments in BTC, BCH, ETH, and LTC. Also, this month the exchange introduced the open Rosetta standard for quick placement of cryptocurrencies on the exchange and simplified integration of various blockchains.
Technical analysis of Bitcoin (BTC):
Over the past day, the price of bitcoin fell to the support level of $9,120. Now, it is $9,190. In the future, we predict the continuation of the uptrend. The nearest resistance levels are $9,200, $9,300, $9,400, $9,500, $9,600, $9,850, $10,000, $10,250, $10,500, $11,000, $12,230. The nearest support levels are $9,000, $8,600, $8,150, $7,900, $7,600, $7,500.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum fell to the support level of $235. Now, it is $240. In the future, we predict the continuation of the uptrend. The nearest resistance levels are $245, $250, $257, $260, $270. The nearest support levels are $240, $238, $235, $229, $225, $220, $218, $216, $212.
Technical analysis of Ripple (XRP):
Over the past day, the price of ripple fell to the support level of $0.1920. Now, it is $0.1980. In the future, we predict an increase. The nearest resistance levels are $0.2, $0.2020, $0.2060, $0.21, $0.2150, $0.22, $0.23, $0.2350. The nearest support levels are $0.1950, $0.19, $0.1820, $0.18, $0.1750, $0.17.
