As the market continues growing, an increasing number of newer cryptos are popping up regularly. The latest to be scrutinized and analyzed by those in the know is the recent IPO of crypto operator Bullish (BLSH). This crypto platform owns the crypto media publisher CoinDesk, and whilst many experts on Wall St have praised Bullish for this institutional focus and unique selling points from others on the market, many remain reluctant to fully back the company due to their IPO being oversubscribed, which indicates a trading day pop. Many think it is still a risky investment with some question marks over their chance of successful longevity. After the initial uptake of crypto was very much limited to tech-savvy individuals and the iGaming industry, crypto has continued its upward trajectory in many different industries. Now, people across the globe and in America have options available to pay in crypto for daily transactions such as groceries, retail, and e-commerce shopping. Crypto has also become a popular option on crypto gambling sites, which offer rapid and secure transactions ( source: https://www.esports.net/crypto/best-bitcoin-casinos/ ). The caution within the market is warranted due to risk concerns over more general volatility , which has forever been an issue with cryptocurrency due to its regulatory shifting and performance differences fluctuating considerably. This is also coupled with concerns around the valuation pressure of Bullish following its high expectations at the IPO stage, a growth which the company will need to continue to replicate in a particularly competitive market. This places a lot of jeopardy on the success of Bullish. However, despite these concerns, there are several big names in the crypto world continuing to back Bullish through this IPO stage. Both Jefferies and Oppenheimer have referred to Bullish’s potential for growth through its digital asset platform and media operation links with CoinDesk, rating the IPO of the company at ‘Hold’ and ‘Perform’ respectively. This shows they have a reserved interest. Meanwhile, Citi is backing the bull of Bullish with a ‘Buy’ rating and a price target that is considerably higher than the current trade price for Bullish. They believe that Bullish will be an important contender in the next crypto wave and are very well placed for continued success. With other crypto IPOs such as Gemini (linked to Gemini Space Station – on Nasdaq) and CoinShares, are due to be available in the near future it seems that the crypto sphere is continuing to grow and there remains a positive outlook for many looking to invest in crypto, which may benefit the continued growth of Bullish, who seem to be paving the way. The IPO stage is really a test of how these crypto-companies are going to be evaluated under the scrutiny of the public market. Investors will be watching areas such as risk and profitability to monitor if there is growth in the company and whether it is worth backing. The IPO of Bullish could be a great indicator of how future IPOs are likely to fare in terms of pricing and risk, but equally, it could bring new challenges to these companies, which may need to lean into clearer disclosures and stricter regulatory compliance frameworks. Whilst Bullish opened trade in mid-August at USD$90, it has since dropped to much lower trading prices. Despite this, it remains significantly above the USD$37 original IPO price and indicates there is room in the market. Despite the caution, it has potentially paved the way for the wider crypto IPO landscape to thrive. It may just need to weather this current skepticism to reap larger rewards. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. The post Opinions Divided Over Latest Crypto To IPO appeared first on Times Tabloid .
