🚨 ARK Invest rebalances portfolio amid market downturn, selling $COIN and buying $BULLISH.
ARK Invest sold approximately $17 million worth of Coinbase ($COIN) shares and purchased around $18 million in shares of Bullish ($BULLISH), according to CoinDesk. This occurred as $COIN's stock price fell over 13% to close at $146.12, with the broader crypto market experiencing significant declines.
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$COIN is now sitting right at the monthly Ichimoku cloud.
The last two capitulation events (August 2024 & April 2025) left a monthly candle wick at the 0.618 log Fib. Will it be the same too this time? https://t.co/0UZh3WAe7u
$COIN approaching monthly Ichimoku cloud and 0.618 log Fibonacci confluence https://t.co/zFhz4LfnS9
This needed to be said because
1. I am not KOL, I don’t take fee for promoting anything.
2. My net worth goes up when $COIN does well and Coinbase valuation can go up only when @coinbase ecosystem stays healthy, grows and bring value to its users.
3. I have uneasy feeling when projects like @zora hurts the ecosystem I spent years protecting.
4. It also undermines the hard work other teams are doing from product, legal, policy and etc perspective.
TYBG.
Unpopular opinion: @zora wiped $10B valuation from @coinbase
$COIN
When partnering, consider the risk of losing real users in your ecosystem.
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