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- Fred Ehrsam sold 97,836 shares of COIN for $13.2 million; ARK Invest unloaded 10,933 shares for $1.5 million.
- Coinbase’s share price has increased from $70 in October to $146 in December 2023.
Fred Ehrsam, co-founder of Coinbase, along with ARK Invest, have sold more than $14 million worth of Coinbase shares in the last 48 hours. This trading activity, surveyed by public trading data, highlights a notable shift in the trends of important market players.
Recent History of COIN Shares
Over the past three months, the Coinbase (COIN) stock price has experienced a remarkable rise. From as low as $70 in late October 2023, the stock peaked at $146 in early December, this increase in value has been a turning point for investors.
Key Recent Transaction Highlights
According to Insider Tracker, a service that shares trading information from corporate executives and politicians, Ehrsam sold 97,836 shares of COIN for $13.2 million on Dec. 11. In parallel, ARK Invest ‘s daily reporting on its actively managed exchange-traded funds (ETFs) revealed that its ARK Innovation ETF (ARKKK) sold about 10,933 shares of COIN valued at about $1.5 million.
Share Sale Analysis
The sale of shares by Coinbase and its insiders has been a topic of interest in recent weeks. While some see these sales as a natural response to the recent rise in the stock’s value, others interpret these moves as a lack of confidence in the company’s near-term future. ARK Invest, in particular, has sold more than $100 million worth of COIN shares in December 2023 alone.
Coinbase Market and Shares
These major sales by both insiders and large investors raise questions about Coinbase’s future prospects and its market valuation. ARK Invest ‘s continued liquidation of COIN shares and Ehrsam’s sale of shares are indicative of a possible revaluation of the company within the context of the ever-changing cryptocurrency market
