As many other recent IPO, this valuation is just out of this world. Also, Coinbase is not the only player in the space. Many also use Binance.us; it offers stacking, cheaper fees and usually lists more alt coins.

I must admin that I bought my first cryptos on Coinbase but soon realized how expensive it was and looked for alternatives.

I don't understand what is so unique about Coinbase and why this insane valuation. I am skeptical and not going to buy, at least not at this price.

Long term I expect exchanges to having to drop fees like stock exchanges. At that point, unless they can offer juicy interests rates like Celsius, how would they make money ?