The shares of Coinbase, the largest crypto asset trading platform in the USA, are going through a difficult period. According to SEC documents, insiders and early investors sold significant shares of COIN in December.
COIN shares continue to have hard times. Major players sold $40,631,394 worth of COINs during the month of December, according to US Securities and Exchange Commission (SEC) documents pointed out by The Block. In the three months to date, total sales of company employees reached $331,744,516. These individuals also made no purchases in either time period.
According to Nasdaq data, COIN shares hit an all-time high at $388 in the days following its listing, which resulted in Bitcoin making ATH as well. Shares have continued to fall since then.
Shares of COIN fell from $315 to $252 in December. The COIN is trading at around $232 with a market cap of around $50 billion at the time of publication.