​In front of Coinbase listing… Will cryptocurrency stocks continue to rise?

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Coin-related stocks are shaking with Coinbase’s listing on the NASDAQ market on the 14th (local time). While the industry is showing a positive outlook due to the establishment of institutional rights in the cryptocurrency market, there are opinions that attention is needed as speculative patterns are still continuing and the possibility of a plunge due to the settling of a peak is open.

According to Upbit, the price of bitcoin, which was 7151 million won per coin on the 31st of last month, recorded 79.5 million won on the 6th, breaking a record high. The coin price, which reached its peak, continued to fluctuate slightly, and the transaction was in progress at the beginning of 78 million won.

This is attributed to the impact of Coinbase, the largest cryptocurrency exchange in the US, ahead of the direct listing on the NASDAQ on the 14th. In the case of cryptocurrency, since transactions have been made through private exchanges, the listing of Coinbase on the stock market is evaluated as entering the institutional sphere of cryptocurrency. In the US financial investment industry, the corporate value of Coinbase is expected to be about 100 trillion won.

As the possibility of Doonamu, which operates the domestic cryptocurrency exchange Upbit, will be listed on the U.S. stock market, companies holding shares in Doonamu and domestic coin-related stocks also showed a sharp rise. According to the Korea Exchange, ATINUM Invest’s cumulative return this month reached 60.86%. In addition, Woori technology investment also showed a double-digit increase rate of 19.69%. Kakao, which owns a stake in Dunamu, also rose by 12.05%.

According to Research Rum, as of the beginning of February this year, Chihyeong Song owned 26.8% of the shares and Hyeongnyeon Kim owned 14.3% of the shares. In addition, Kakao (8.1%), Woori Technology Investment (8.03%), Atynum High Growth Enterprise Investment Association (7.0%), Hanwha Investment & Securities (6.15%), Daesung Secondary Investment Association (0.74%), etc. I have.

Bitcoin-related stocks also climbed. SBI Investment showed 48.00%, Enbiogen (18.83%) and T Scientific (13.22%) also showed double digits.

The financial investment industry advises to take a positive view as the virtual currency market is expected to expand steadily in the future. In particular, as Dunamu owns Upbit, which occupies more than 70% of the domestic cryptocurrency trading volume, listing on the U.S. stock market is expected to lead to a re-evaluation of the cryptocurrency exchange and the expansion of the cryptocurrency market.

Researcher Choi Seong-hwan said, “The average daily transaction amount of domestic virtual currency confirmed recently is 16.694.7 billion won, which exceeds the daily average transaction value of KOSPI (16 trillion won) and KOSDAQ (11 trillion won).” It can be seen as the incorporation of currency into institutional rights, which will lead to continuous growth of the annual transaction value of virtual currency.” In particular, Researcher Choi predicted that if Dunamu is listed on the U.S. stock market where the requirements for listing are not strict and financing is easy, it will receive a valuation of about 10 trillion won.

However, it is said that coin-related stocks need attention as they show a typical theme stock form in which stock prices fluctuate depending on the issue. It is known that Dunamu expressed their position that they had no plans at all, but only speculation from the industry came out. In other words, the extinction of the event could lead to a sharp decline in stock prices.

An official from the financial investment industry said, “The stock prices of Upbit-related stocks and bitcoin-related companies have risen due to expectations from the coinbase listing. However, as the stock price is remarkably high, there is a high possibility of a sharp decline when the event expires. said.