Crypto
Hidden Liquidity Risks Lurk Beneath Coinbase Stock Tokens' $1 Billion Trading Volume
Coinbase's stock tokens may appear active due to their $1 billion trading volume. However, this large trading activity hides potential liquidity risks for token holders looking to sell.
A premarket check on September 23 found that indicative buy and sell routes existed for about $100,000 of each of the ten stock tokens on Base. The estimated proceeds from selling these tokens were between 0.06% and 0.71% below their dollar valuation on KyberSwap.
The displayed balances in Aerodrome's stock/$USDC pools ranged from approximately $818,700 for MSFTc to $2.11 million for NVDAc, with a total combined balance of around $12.97 million. These numbers only show the available liquidity and do not account for the token trading outside US equity hours.