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Benzinga

Business

Murtuza J Merchant

Coinbase, Circle, Metaplanet Stocks Tumble: What's Driving The Decline?

Coinbase COIN Circle Metaplanet CRCL Crypto Bitcoin SharpLink

The Coinbase Trade

A wave of sharp drawdowns across crypto-exposed equities like Coinbase (NASDAQ:COIN), Circle (NYSE:CRCL), and Metaplanet (OTC:MTPLF) is pointing to a broad market rejection of inflated valuations.

What Happened: The declines, driven less by macro headwinds and more by overpayment for narrative-driven exposure, are triggering a necessary reset in how investors price crypto's equity proxies, according to 10x Research.

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One subscription that gives you access to news from hundreds of sites

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