Gemini Skyrockets 32% on Nasdaq Launch, Hits $4.4 Billion Valuation 언블록 미디어

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Gemini Skyrockets 32% on Nasdaq Launch, Hits $4.4 Billion Valuation

출처: Block Media

Gemini's Nasdaq Debut: Shares Surge 32%, Valuing Crypto Exchange at $4.4 Billion

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, made a powerful entry into public markets as its shares soared 32% during their debut on Nasdaq under the ticker symbol GEMI. The IPO, which officially launched on October 13, witnessed remarkable investor enthusiasm that propelled Gemini’s valuation to approximately $4.4 billion (KRW 5.8 trillion) by the end of the trading day.

Initially priced at $28 per share during the initial public offering, Gemini’s stock opened at $37.01, well above expectations. This substantial uptick pushed the company’s market capitalization to $3.3 billion and drove continued momentum throughout the day, ultimately positioning the company as one of the most talked-about players in the cryptocurrency sector.

Robust Investor Demand Fuels IPO Success

The Gemini IPO was managed by heavyweights Goldman Sachs and Cantor Fitzgerald, demonstrating the growing significance of cryptocurrency-focused businesses in traditional financial markets. The company successfully raised $425 million, exceeding expectations amid heightened demand from institutional and retail investors alike.

While the company initially targeted an offering price range of $24 to $26 per share, increased investor interest led to an adjustment, setting the final price at $28 per share. A strategic allocation ensured that 10% of the offering was reserved for pre-designated participants, underlining the opportunity for key stakeholders and strategic investors to lock in early positions.

Founded in 2014, Gemini has steadily risen to prominence in the cryptocurrency space. Co-founder Cameron Winklevoss reflected on their early beginnings, stating, “When we first encountered Bitcoin (BTC) in 2012, it left a profound impression on us. This led us to establish Gemini with the purpose of making cryptocurrency adoption mainstream.”

Crypto IPOs Signal Investor Enthusiasm

Gemini’s landmark IPO wasn't the only buzzworthy debut in the cryptocurrency sector last week. Figure Technologies, a crypto-focused lending platform, also listed on Nasdaq, where its shares rose 24% on the first day and carried that momentum forward the next trading session. Both companies’ performance underscores the enduring interest in cryptocurrency-related equities and blockchain-powered financial solutions.

This surge in interest has not gone unnoticed by experts. Carlos Guzman, researcher at GSR, noted, “The successful public debut of Circle in June marked a turning point for cryptocurrency-related IPOs. Investors now hold heightened expectations not only for stablecoin issuers but for the broader crypto ecosystem as a whole.”

Gemini’s debut represents a continuation of this trend, with the company becoming the 10th major crypto-focused enterprise to go public in the United States during 2023. This signals a growing appetite for blockchain-based innovations within traditional equity markets, offering investors new opportunities to participate in the expanding cryptocurrency and decentralized finance landscape.

The Bigger Picture: Crypto's Role in IPO Dynamics

The wave of recent IPOs from cryptocurrency companies demonstrates not just enthusiasm for blockchain technology but also a broader acknowledgment of the sector’s maturity. As traditional financial institutions like Goldman Sachs take on leading roles in managing these IPOs, it’s clear that the crypto sector is steadily integrating into mainstream capital markets.

Gemini’s strong Nasdaq debut serves as a bellwether for the larger blockchain ecosystem. It provides both institutional investors and everyday traders access to an innovative, fast-developing industry while legitimizing cryptocurrency companies as credible players within the global financial marketplace.

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