{"id":5930,"date":"2020-12-11T01:00:50","date_gmt":"2020-12-11T01:00:50","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=451965"},"modified":"2020-12-11T13:42:43","modified_gmt":"2020-12-11T13:42:43","slug":"instantly-exceeds-ethereum-market-cap","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/instantly-exceeds-ethereum-market-cap\/","title":{"rendered":"Burger Flippening: DoorDash IPO Instantly Exceeds Ethereum Market Cap"},"content":{"rendered":"

It is \u201cIPO season\u201d in the stock market, and among the companies going public for the first time, is food-delivery firm DoorDash. In its stock market debut, the individual share price brought the total market cap above the entire Ethereum market cap<\/a> instantly.<\/p>\n

One analyst calls DoorDash\u2019s debut the \u201cthe most ridiculous IPO of 2020,\u201d holding \u201cno value.\u201d While that is debatable, the fact that it immediately surpassed years of adoption in a breakthrough financial network that could disrupt and support the entire financial system in the future, is indeed \u201cridiculous.\u201d Here\u2019s a detailed look at DoorDash\u2019s stock market introduction and more reasons why it could also show just how undervalued the top-ranked altcoin<\/a> is currently.<\/p>\n

IPO Season: DoorDash Goes Public To Capitalize On-Peak Stock Market Exuberance<\/h2>\n

With everyone stuck at home, and restaurants either forced to shut down, limit seating, or having gone out of business, few businesses have benefitted from the pandemic as much as DoorDash has<\/a>.<\/p>\n

The budding food delivery firm relies on delivery drivers in the same vein as Uber, who pick up food from local establishments and deliver it to DoorDash\u2019s customer\u2019s doorsteps.<\/p>\n

Related Reading | Here\u2019s What Will Happen To Ethereum Once Bitcoin Breaks $20,000<\/a><\/strong><\/em><\/p>\n

Yesterday\u2019s stock market debut propelled the share price upward by 86% over its initial IPO price<\/a>, taking the total market cap to $72 billion.<\/p>\n

David Trainer, CEO of market research firm New Constructs, who finger pointed WeWork for the disaster it was last year, says DoorDash is<\/a>\u00a0 \u201cthe most ridiculous IPO of 2020.\u201d<\/p>\n

Trainer cites stiff competition, a lack of established revenue-driving, and says the current pandemic-driven demand could wane.<\/p>\n

\u201cThis is Silicon Valley selling public markets an asset at a huge premium, and they\u2019re going to laugh all the way to the bank, and I think a lot of individual investors rushing into this are going to lose a lot of money,\u201d he explained.<\/p>\n

\"doordash<\/p>\n

The DoorDash stock share price chart looks strange with only two days trading | Source: NYSE-DASH on TradingView.com<\/a><\/pre>\n
Why The \u201cRidiculous\u201d Debut Demonstrates That Ethereum Market Is Massively Undervalued<\/h2>\n
The DoorDash stock market debut puts its market cap at $72 billion, taking it above Ethereum\u2019s $63 billion<\/a> and rapidly declining Ethereum market cap. Analysts believe it could eventually reach $1 trillion<\/a>.<\/p>\n
The second most dominant crypto network was recently valued slightly higher than $72 billion itself but has since pulled back considerably.<\/p>\n
But so has DoorDash, putting the two assets closely on par moving forward. And few comparisons do such a bang-up job of proving why the initial DoorDash valuation is so \u201cridiculous.\u201d<\/p>\n
\"doordash<\/p>\n
At its debut, the DoorDash IPO was valued higher than the entire Ethereum network | Source: CRYPTOCAP-ETH on TradingView.com\u00a0<\/a><\/pre>\n
DoorDash has very little profit margins currently, due to it still being in the building stage. Ethereum Market, today is a powerful distributed ledger network capable of deploying decentralized finance apps, smart contracts, and just about anything else Wall Street can cook up<\/a>.<\/p>\n
Related Reading | How Ethereum Is Poised To Replace Wall Street\u2019s Archaic Back End<\/a><\/strong><\/em><\/p>\n
Ethereum\u2019s potential to transform the future of business, finance, and some of the systems most critical to any industry should give it a market cap significantly higher<\/a> than an alternative way to get food delivery, which has existed for as long as people have been eating at restaurants.<\/p>\n
What is happening instead, is that investors are being fed low-value promises in exchange for capital that simply isn\u2019t comparable. But regardless, investors seem to be eating it up, leaving little appetite behind for real-value assets like Ethereum market and the future of DeFi<\/a>.<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
It is “IPO season” in the stock market, and among the companies going public for the first time, is food-delivery firm…<\/p>\n","protected":false},"author":1,"featured_media":5931,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[28,430,283,109,73,111,113,287,301],"class_list":["post-5930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-crypto-news","tag-crypto","tag-doordash","tag-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt","tag-ipo","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5930"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=5930"}],"version-history":[{"count":2,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5930\/revisions"}],"predecessor-version":[{"id":5961,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5930\/revisions\/5961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/5931"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=5930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=5930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=5930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}