Coinbase's listing approved! A-share COIN will be directly listed on the 14th, benefiting concept stocks of platform tokens

Coinbase announced on April 2nd:

"We are pleased to announce that our registration statement has been approved by the SEC, and we expect our Class A common stock, COIN, to start trading on the NASDAQ on April 14th."

We’re happy to announce that earlier today, the SEC declared our S-1 registration statement effective and that we expect our direct listing to occur on April 14, 2021, with our Class A common stock trading on the @NASDAQ under the ticker symbol COIN.https://t.co/cwRZWmj9Pv

— Coinbase (@coinbase) April 1, 2021

What is the current valuation of the pre-IPO contract?

As of the deadline, the Coinbase pre-IPO contract launched by the FTX exchange is currently priced at 458, with a quantity of 2.5 billion, equivalent to a valuation of $114.5 billion.

Will platform tokens benefit from this?

Reviewing the past few articles: "Coinbase's implied valuation reaches $100 billion, nearly double the total market capitalization of the top three platform tokens" and "Coinbase's record daily trading volume, Larry Cermak: the estimated valuation of the listing may exceed one hundred billion," it can be seen that rumors of Coinbase having a valuation of over $100 billion have been circulating for a long time.

Comparing the performance of other trading platforms with Coinbase, taking Binance as an example, the company's performance is expected to be no less than that of Coinbase, but there is still a certain gap between the "market value of platform tokens" and the "estimated market value of Coinbase stocks." Therefore, although platform tokens are not equivalent to stocks, they do have a certain projection effect. When Coinbase's valuation rises, it also helps boost the prices of platform tokens.

For example, the news of Coinbase's listing in April led to over 30% price increases for all platform tokens within seven days, with Binance's BNB even experiencing a 50% increase.