Will Vietnamese "unicorn" Coin98 be listed on Coinbase?
For fans of cryptocurrencies, Coinbase is well known. It is a cryptocurrency exchange based in San Francisco (California, USA).
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam and is currently the largest cryptocurrency exchange in the United States by trading volume.
Coinbase is also one of a few Blockchain companies that filed an IPO application, and is now listed on the NASDAQ with a valuation of nearly 90 billion USD.
Coinbase is considered an important “gateway” for Blockchain projects to have access to US investors.
On its blog, Coinbase recently shared information about a number of cryptocurrencies that are being considered for listing on this exchange in the second quarter of this year.
The list includes some prominent projects such as Arcblock (ABT), Binance USD (BUSD), BitDAO (BIT), DappRadar (RADAR). Notably, among about 50 projects considered for listing on Coinbase, Coin98 (C98) from Vietnam is included.
Coin98 is a DeFi (decentralized finance) ecosystem with the aim of helping users access the decentralized financial market. Towards that goal, Coin98 has developed a set of products to serve the needs of users from trading and storing to managing, lending and saving assets.
Coin98 has a founding team and core members who are all Vietnamese. This is one of the most prominent Blockchain projects of Vietnamese people, following previously famous names such as Kyber Network, TomoChain or Axie Infinity. Prior to Coin98, Kyber Network, TomoChain, and Axie Infinity were listed on Coinbase.
In August 2021, Coin98 was surprised when the total market capitalization of C98 tokens reached 1.13 billion USD. Coin98 is also one of several Vietnamese startups with a market capitalization exceeding the 1 billion USD mark.
When it comes to the notable milestones of this startup, in April 2021, Coin98 Labs completed the seed round, raising 1.25 million USD from investment funds like ParaFi Capital, Multicoin Capital, Hashed and Spartan Group.
Just a short time later, Coin98 continued to raise 4 million USD from Alameda Research.
At the moment, the price of a C98 token is trading at 1.4 USD. At this price, the total capitalization of this startup reaches 264 million USD. Compared to the opening price of the private sale, the price of the C98 token has increased dozens of times.
If it is listed on Coinbase, this will open a new development for Coin98 because it will get new investment from the US market.