Letter from NWC CEO

This was another interesting week for crypto and the markets in general, and quite a week for NewsCrypto as well. Regarding the markets, the biggest event was definitely the Coinbase listing on Wednesday, as shares of the exchange started trading at $381, 52.4% higher than the reference price of $250. What’s more, it went all the way up to $430, before dropping back down to close its (not unexpectedly) volatile first day at $328.

The interesting thing about this is the implied market cap. At the high, the fully diluted market cap would be $112 billion dollars, which is significantly more than the combined market cap of the Nasdaq exchange ($26B), where it’s trading, and also the parent company of the New York Stock exchange ($65B). Even at the closing price on the first day, the implied market cap would be over $85 billion, which has many analysts wondering whether the crypto exchange might be overvalued. On the other hand, one can argue that the drop on the first day was caused by employees selling their shares (as over 1,700 people received 100 shares each), so it’s likely that those shares were bought by more long-term focused buyers, and this could be bullish in the long run.

As for us here at NewsCrypto, the biggest event was the release of our new roadmap with five stages named after Roman gods and godesses. These phases span from the beginning and early development of NewsCrypto through the improvements and current features to the future global expansion and growth. The roadmap presents our most important goals for the future in more detail than ever before, with everything from the Unchained Education hub to DeFi implementation, a blockchain incubator and more.

We’ve also announced the Strategy Design tool on Friday. Every user will be able to build their own trading strategy using popular trade indicators with the tool, and it will be implemented together with a very special partner in crypto, which is why it wasn’t included in the roadmap, as it isn’t entirely up to us.

Overall, it might be redundant to say that it has been an eventful week, since crypto hardly ever disappoints on this front. At any rate, I wish you all well and I look forward to writing to our community next week!

Vid Gradišar, NWC CEO

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