Bullish, a digital asset trading platform, successfully conducted its initial public offering (IPO), attracting attention from the markets and investors.
Successful Debut of Bullish in the Stock Market
On August 13, Bullish held its IPO, raising $1.1 billion with a share price of $37, surpassing market expectations. The stock surged to $118, marking an increase of over 200%. Currently, shares are trading at $62.89, which is 70% above the IPO price.
Financial Support and Assets of Bullish
Bullish holds substantial Bitcoin reserves, with 24,000 BTC, placing it among the leading publicly traded holders of cryptocurrency. Currently, Bullish's investments have been made possible through the support of Block.one, whose CEO Brendan Blumer is the largest shareholder.
History of Bullish and EOS Relationships
Bullish's operations are closely tied to its EOS legacy. Created by Block.one in 2017, EOS faced resource allocation issues, leading to disappointment within the community. Bullish, launched by Block.one in 2021, does not support EOS or its community, causing dissatisfaction and even a governance uprising among EOS supporters.
The IPO of Bullish marks an important milestone in the evolution of crypto finance, opening new opportunities for the integration of digital assets into traditional financial markets. Given current market trends, it remains uncertain how long the positive momentum in cryptocurrency markets will last.
