Top 5 crypto public listings in 2021

public listing, Top 5 crypto public listings in 2021

YEREVAN (CoinChapter.com) – The cryptocurrency market has seen its fair share of ups and downs in 2021, but several companies increased their prestige and raised their chances for future expansion by going public. In detail, a company ‘goes public’ when it offers its shares for the general public to own. Here are the top 5 crypto company listings that made headlines in 2021.

#1 CoinShares (CS)

Crypto financial services company Coinshares launched its initial public offering (IPO) on Mar 1, 2021. The IPO included 3,364,403 shares on the NASDAQ First North Growth Market in Sweden. CoinShares reported $4.56 billion in assets under management as of Feb 19 and celebrated $5 billion in April.

On Dec 16, the European digital asset investment firm announced a partnership with Scalable Capital, a Munich-based digital wealth manager and neo broker. CoinShares’ CRO Frank Spiteri commented on the collaboration.

It has been a pleasure to work with the team at Scalable Capital to help meet the growing demand by enabling clients to participate in the growth of the digital asset ecosystem in a simple, transparent way.

said the executive.

Also read: Bitcoin recent slump part of a bullish reversal pattern? Let’s analyze.

CoinShares’ stock price stood at $83 in the Dec 29 session, a 4.3% decline month-to-date.

CoinShares (CS) stock price. Source: CS on TradingView.com
CoinShares (CS) stock price. Source: CS on TradingView.com

#2 Coinbase (COIN)

Shortly after CoinShares announced its IPO, the largest cryptocurrency exchange in the United States followed suit. Coinbase filed with the US Securities and Exchange Commission (SEC) to become a publicly listed company through a direct listing. The latter is less expensive than an IPO and doesn’t entail a lockup period.

In detail, if the company chooses the IPO route for a public listing, it creates new shares and sells them to the public. However, no new shares are created in a direct listing, and only existing, outstanding shares are sold with no underwriters involved.

Also read: Coinbase stock falls 4.4% after the exchange buckles under SEC pressure.

The company went public on Apr 14, and its current market cap stands at $72 billion. COIN stock price clocked at $252 in the New York trading session on Dec 29, a 20% decline month-to-date.

Coinbase share price. Source: COIN on TradingView.com
Coinbase share price. Source: COIN on TradingView.com

Coinbase was by far the most extensive crypto public listing in 2021 and the seventh biggest US public listing ever, according to Arcane Research.

#3 Greenidge Generation (GREE)

The “vertically integrated bitcoin mining and power generation company” announced its public listing on Sep 15. It went public through the SPAC merger on NASDAQ.

The mining company purchased a site in South Carolina on Dec 23. Greenidge Generation claims it is “committed to 100% carbon-neutral bitcoin mining at all of its locations” and utilizes low-carbon sources of energy, offsetting its carbon footprint. With headquarters in New York state, the company plans to expand its premises throughout North America.

Also read: Bitcoin (BTC) mining helps Jasmine Technology Solution stock surge 7,000%.

Meanwhile, Greenidge Generation shares changed hands at $16.7, a 70% downtrend from the September debut.

Greenidge Generation (GREE) stock price. Source: GREE on TradingView.com
Greenidge Generation (GREE) stock price. Source: GREE on TradingView.com

#4 Cipher Mining (CIFR)

October saw several bitcoin mining companies go public within a fortnight. Along with Stronghold Digital Mining
(SDIG), Cipher Mining chose the SPAC merger on NASDAQ and offered its shares on Oct 20. Along with other entries on the list, CIFR price declined throughout the month and traded at $4.5 on Dec 29, after a 43% plunge month-to-date.

Cipher Mining (CIFR) stock price. Source:  CIFR on TradingView.com
Cipher Mining (CIFR) stock price. Source: CIFR on TradingView.com

The mining company’s current market cap stood at $1.3 billion.

#5 Terawulf (WULF)

The last entry on the list is a recent public listing from another mining company Terawulf. The company touted the support of Gwyneth Paltrow, an award-winning Hollywood A-lister. However, the miner tumbled during the company’s public trading debut on the NASDAQ.

Terawulf (WULF) stock price. Source: WULF on TradingView.com
Terawulf (WULF) stock price. Source: WULF on TradingView.com

The renewable-energy-oriented Terawulf went public on Dec 14. Since then, WULF shares lost 57% and traded at $13.8 on Dec 29. Chris Brendler, a crypto analyst at DA Davidson & Co, commented on the mining company’s share price declines.

Profitability has fallen dramatically. The price of Bitcoin going down and global hash rate going up means bad news for miners.

said the expert.

Also read: Cryptocurrencies to benefit as analysts anticipate a bad 2022 for government bonds.

Despite the declines in stock prices across the list above, the mentioned crypto companies could see their shares rise in value in 2022. As Bitcoin price recovers, along with the leading altcoins, the investment inflows could increase, benefitting the companies in the industry.

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