Hello crypto world, as we all know today is the 14th of april, and when USA stock markets will ring the bell, coinbase (COIN) shares will be starting to be traded. 

We are going to see a direct listing with coinbase directly selling its shares on market. The huge traditional financial system is gonna face one of the biggest and for sure the first one exchange to be listed on nasdaq. 

I have been checking the results released for the first quarter of 2021 and the 2020 full year result.

What impressed me is that coinbase in 2020 made 1.1 billions in net revenue. 

Of course they earn on every transaction (fees)  made on the platform and i made this count:

Year:2019

Trading volume: 79.9 billions $

Net revenue: 0.48 billions $

Average fee: 0.6%

Year: 2020

Trading volume: 193 billions $

Net revenue: 1.1 billions $

Average fee: 0.569%

This just to figure out that they are earning more and less the 0.569% in fees on every trade on their platform. 

This is for sure a good income but when keeping on reading the results they clearly say they will need to mantain their market "dominance" without losing new customers and new fees to get!

So my question is? Are they gonna be able to keep their market share?

Not so easy to answer.

Crypto markets can keep growing and bring many new users in, but many other exchanges are growing and making profit as well.

So what if some of the biggest and most known exchanges start to become more user friendly?

And what if they have so better conditions than coinbase? At the moment you can for sure easily find cheaper fees to get into crypto so this is gonna be a great challenge!

Coinbase price is gonna be also strictly related to crypto prices of course, so is like having another very similar asset if you already invest in cryptocurrencies.

I will surely follow the listing but I got too many doubts to be a early buyer. I just hope this will bring more visibility and money to crypto space.

That's why I'm quite sure we are gonna have high volatility on crypto today and in the next days.

This is just my short opinion on coinbase ipo. What do you think about coinbase ipo?

Looking forward to buy it? Or to short it?

Thanks for reading