Coinbase Stock Tumbles Under Selling Pressure as Tokenized Stocks Expand Abroad

Coinbase's (COIN) stock is trading at $180.33, down 3.65% on the day.

The price has fallen sharply and is currently positioned below its key short-term and long-term moving averages, though it remains above medium-term levels.

Coinbase has enabled trading of tokenized U.S. stocks, including Apple, Nvidia, Meta, and Alphabet, for non-U.S. users on its Base network.

The tokenized shares are fully backed by underlying equities held by Alpaca in Abu Dhabi, with onchain price data provided by Chainlink.

COIN/USD stock trades below key short-term and long-term moving averages, with intraday price expected to fluctuate between $168.82 and $191.84 and upward movement more likely at 55% probability.