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Coinbase Coin facing heavy Insider Sellings, Could Crypto Market dip be the reason?

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  • SEC reports show the happenings related to the Selling of stocks inside the famous crypto exchange Coinbase Coin
  • Assumptions are that this could be seen as a downfall in the crypto market, which is reflected in the stock sellings of Coinbase Coin. 
  • Coinbase coin has seen a downfall in its share price from $357 in Nov 2021 to $232 in Jan 2022
Source- nasdaq.com

Coinbase Coin is a very prominent name in Crypto Market, as it was the first crypto exchange launched in 2012. From there on, Coinbase Coin kept growing in terms of popularity and its value and market cap along with the crypto market. All was going well, but the crypto exchanges seemed to be facing selling stocks by some of its top leaders in three months, as SEC reported.

According to the report, Coinbase Coin has seen selling off its stocks in recent months. But the catch here is that most of the sellings of stocks have been by Coinbase Coin higher officials. Although the Selling of stocks is not something new, it has also been seen at some significant events, such as the launching of Bitcoin Cash. There was approximately $4.6 Million worth of stocks sold out. 

Officials included in Selling of the stocks of Coinbase Coin are Co-founder and board director Fred Ehrsam who sold about $31.3 Million worth of Coinbase Coin stocks; Chief product officer Surojit Chatterjee and Chief accounting officer Jennifer Jones also sold about $9 Million and $253K worth of stocks.

However, Coinbase Coin has been seeing some notable highs in its share price along with the crypto market when most cryptocurrencies in crypto space like BTC and ETH, etc., were getting new highs around Oct 2021. But till the year-end, things started getting changed in the crypto market, and it started falling, to the extent that it came down from $3 Trillion to almost $2 Trillion today. The same might be reflected in the Share price of Coinbase Coin because it is so relatable and relevant to the Crypto market.

The Dip in Crypto space faced by cryptocurrencies has already been revealed and seems to be the result of US Fed Interest Hikes; since then, the prices have been going down in every kind of market all over. Still, experts are optimistic that it will be back on track of going upward and this time higher than ever. Maybe at the same time, there will be good days coming back for the Coinbase Coin stock. 

Many experts, analysts, and influential people have predicted Bitcoin and the Crypto market’s high jump for 2022; some have also been hoping the same for Coinbase Coin. Bank of America analysts forecasted about 16% growth in Revenue till 2023 for Coinbase Coin. Forecast about this growth is based on various factors like the crypto exchange for staking, NFTs, and many DeFi projects. Although these predictions might have created positive vibes about Coinbase Coin, this might still be a little bit far away from being reflected on its price value. 

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