Modern Toolbox: What the Coinbase Nasdaq listing means for the crypto world

The cryptocurrency community is abuzz following the Coinbase Nasdaq listing and for good reason — this is a turning point in cryptocurrency.

As a quick overview of the Coinbase platform, Coinbase is a cryptocurrency exchange that is one of the most influential and largest platforms in the United States. While crypto has had initial coin offerings — where a cryptocurrency is released in a similar fashion and process as an initial public offering — Coinbase is the first major U.S. crypto company to be listed on the Nasdaq.

Coinbase is an important platform for institutional investors. Many retail crypto investors are spread out between different platforms and wallets, but Coinbase remains one of the most institution-friendly methods for large amounts of fiat currency to be moved into crypto.

So, what does the Nasdaq listing mean? Well, COIN’s listing is a big step forward for all of cryptocurrency.

Though I’ve spent many articles exploring why crypto is an important and necessary development in our economic systems, it’s hard to tell whether crypto can serve as a real replacement of traditional currencies.

In the beginning of any technology, as I’ve explained before, the costs associated with and the value assigned to them will be volatile. Look at computers: The first few computers were extremely expensive and provided very little utility in their state at the time.

But fast forward a few decades, and almost everyone in the modern world has some sort of connection to the internet.

Like computers were in the 1970s, cryptocurrency is still in its infancy.

That’s why it’s so significant for a cryptocurrency exchange platform to be listed on the stock market. It’s the first major step in establishing a bridge between traditional financial markets and those that are decentralized.

The Coinbase listing’s importance is derived from public perception. A registered, legitimate crypto exchange in markets everyone is familiar with will undoubtedly increase confidence in cryptocurrency as a whole.

The general outlook from financial media outlets is that the effects of the Coinbase listing can’t be predicted at this stage.

Though we may see a short-term rise or drop in the value of some large cryptocurrencies, it is impossible to look at this issue and not recognize the effect the listing has on the overall timeline of cryptocurrency.

Regardless of the short-term effects, Coinbase’s listing will appear in the history books as one of the first steps toward mass adoption and acceptance of cryptocurrency.