On its IPO date, it achieved a $100 billion valuation at one point. The long term view of the gold rush which has been associated to the exchange continues to be said as many say that it is better to sell the pick axes instead of the asset. However, I believe that the continued volatility and up/down cycles of the asset class can be a double edged sword longer term. Many expect more bear markets which may put the Company under pressure to perform.
However, I think this also helps the users of the asset class as they have already started to comment of how much quicker they need to react to innovation and disruption. Having a public face to our asset class will ultimately help in adoption and growth so I welcome it. The fact that they have already started to support more projects and assets in addition to look at ways to incorporate DeFi into their ecosystem will add value for all participants.
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