Coinbase Shares Jump 18% and Strategy Gains 10% – Crypto Stocks Rise as Bitcoin Rebounds

Key Takeaways

Crypto Linked Stocks Lead Gains as Risk Appetite Returns

U.S. equity markets saw a rotation into risk assets during the latest trading session, with crypto linked companies among the strongest performers. While major indexes such as the Dow and S&P 500 traded mixed against a backdrop of inflation and economic data, stocks tied to digital assets outperformed.

The move followed a rebound in Bitcoin prices, which helped lift sentiment around companies with direct exposure to cryptocurrency trading, custody, or treasury holdings. For investors and users monitoring the stability of crypto platforms and service providers, these stock movements reflect how closely traditional equity markets track developments in digital asset prices.

Coinbase Surges Despite Quarterly Loss and Analyst Downgrade

Coinbase was one of the most notable gainers of the session. The company’s shares climbed more than 18%, significantly outpacing many traditional technology stocks.

The rally came despite a challenging earnings backdrop. Coinbase reported a $666.7 million loss for the fourth quarter of 2025, marking its first quarterly loss in several quarters. The loss was primarily attributed to lower trading revenue as crypto market volumes declined.

Lower digital asset prices have reduced trading activity across the market, directly affecting Coinbase’s transaction based revenue model. Over the past month, Bitcoin has fallen about 30%, with alternative cryptocurrencies recording even steeper losses. As a result, Coinbase shares have declined roughly 34% since the beginning of 2026.

In addition to weaker market conditions, analysts have adjusted their outlook. Monness Crespi and Hardt downgraded Coinbase from buy to neutral and set a $120 price target, citing downside risk linked to softer market trends.

At the executive level, CEO Brian Armstrong sold more than 1.5 million shares valued at approximately $545 million. He described the transaction as a diversification move.

Despite the quarterly loss, Coinbase reported relative strength in long term revenue streams. Subscription and services revenue, including stablecoin related income, showed resilience and helped support overall sentiment during the session.

For users of crypto trading and betting platforms, Coinbase’s results underline how strongly exchange revenues depend on market volatility and price direction. When prices fall and trading slows, revenue pressure follows.

Strategy Advances as Bitcoin Treasury Expands

Strategy, widely known for its Bitcoin focused treasury approach, recorded a gain of around 10% during the same session. The share price moved in line with Bitcoin’s rebound after a period of significant volatility.

The company disclosed that it purchased more than 1,100 BTC during the week, spending roughly $90 million at an average price in the high $70,000 range. This addition further increases its Bitcoin holdings at a time when prices have experienced sharp swings.

However, the firm’s earnings report highlighted the financial impact of those fluctuations. Strategy posted a multi billion dollar quarterly loss, largely driven by mark to market declines on its Bitcoin holdings. Because the company carries substantial digital assets on its balance sheet, downturns in Bitcoin’s price can significantly affect reported results.

Executive Chairman Michael Saylor reiterated that the company does not intend to sell Bitcoin during downturns and maintains its long term holding approach. The latest purchase confirms that the company continues to add to its treasury despite price volatility.

For market participants, Strategy’s results demonstrate how corporate Bitcoin exposure translates directly into earnings volatility. When prices decline, accounting losses can be substantial even if the company does not liquidate its holdings.

Broader Sector Participation: Circle and Galaxy Digital

The upward move was not limited to Coinbase and Strategy. Other crypto related stocks also recorded gains during the session.

Circle rose by approximately 7%, while Galaxy Digital advanced about 6.5%. These gains indicate that investor demand extended across multiple segments of the digital asset ecosystem, including stablecoin infrastructure and crypto focused financial services.

Although broader equity benchmarks delivered mixed performance, crypto linked equities collectively benefited from renewed interest in digital asset exposure.

Market Context for Crypto Users and Platform Observers

The recent price action highlights the tight correlation between Bitcoin’s market direction and the valuation of publicly traded crypto companies. Over the past month, a roughly 30% drop in Bitcoin contributed to declining volumes and weaker earnings across the sector. The latest rebound has temporarily reversed part of that pressure in equity markets.

For users evaluating crypto exchanges, betting platforms, or other digital asset services, stock market reactions offer insight into how sensitive major operators are to price cycles. Companies reliant on transaction fees may experience earnings swings when trading slows, while firms holding large Bitcoin reserves face accounting volatility tied to market prices.

Our Assessment

The latest trading session shows a clear rebound in crypto linked equities, with Coinbase rising more than 18% and Strategy gaining around 10% as Bitcoin prices stabilized. These gains occurred despite recent quarterly losses at both companies, which were linked to lower trading volumes and mark to market declines on Bitcoin holdings. The developments underline the close relationship between digital asset prices, corporate earnings, and equity valuations across the crypto sector.

Coinbase Shares Fall as Analysts Cut Targets and CEO Sells Stock – Crypto Market Downturn Adds Pressure Ahead of Earnings

Key Takeaways

Coinbase Shares Under Pressure Amid Broader Crypto Sell-Off

Coinbase, the largest publicly traded crypto exchange in the United States, is facing renewed selling pressure as digital asset prices continue to decline. The company’s stock opened Thursday at around $153, nearly 10% below its intra-week highs. Since the beginning of 2026, shares have fallen roughly 34%.

The weakness in Coinbase’s share price comes as the broader crypto market has retraced significantly from late 2025 levels. Bitcoin has declined about 30% over the past month. After trading above $100,000 in October 2025, it has followed a downward trajectory since December and is now changing hands near $66,000 following a recent sell-off that briefly pushed prices toward $60,000.

Major altcoins have recorded even steeper losses. Lower asset prices have translated into reduced trading volumes across the sector, directly affecting one of Coinbase’s core revenue drivers: transaction fees generated from spot trading activity.

Analysts Revise Targets as Trading Activity Slows

Several Wall Street firms have adjusted their outlooks on Coinbase in response to the market environment.

Monness Crespi & Hardt downgraded Coinbase from buy to neutral. The firm set a price target of $120, implying more than 20% downside from recent trading levels. The downgrade was tied to downside risks associated with weakening crypto market conditions.

JPMorgan reduced its price target by 27%. In its note, the bank cited lower global spot trading volumes, declining overall crypto market capitalization, and weaker stablecoin activity, including softer circulation of USDC. Analysts at JPMorgan also highlighted the fragmented nature of global crypto spot trading. They noted that numerous smaller players could challenge Coinbase’s market share and warned that the company may not maintain the position it has held as the only major publicly traded crypto exchange for several years.

Other firms have also trimmed expectations while maintaining relatively constructive longer-term ratings. Cantor Fitzgerald lowered its target price from $277 to $221 but kept an overweight rating. Citi reduced its target from $505 to $400 while maintaining a buy stance.

According to the data cited, Coinbase currently holds a consensus rating of Moderate Buy. Nineteen analysts rate the stock as a buy, twelve assign a hold, and one issues a sell. The average price target stands near $332.

CEO Brian Armstrong Sells More Than 1.5 Million Shares

In addition to market-related headwinds, insider selling has drawn attention. Matthew Sigel, head of digital assets research at VanEck, reported that Coinbase CEO Brian Armstrong sold more than 1.5 million shares between April 2025 and January 2026. Based on Bloomberg pricing data, the transactions were valued at approximately $545 million.

The largest single sale occurred on June 25, when Armstrong disposed of 336,265 shares at roughly $355 per share.

Armstrong addressed the sales publicly on X. He described the transactions as diversification after more than a decade with most of his wealth tied to a single company. He stated that retaining nearly all of his net worth in one stock would be impractical and added that he remains “super long” on Coinbase. According to his statement, he has used part of the proceeds to start new companies.

Earnings Expectations in Focus as Market Weakness Persists

Attention is also turning to Coinbase’s upcoming earnings report. H.C. Wainwright analyst Mike Colonnese warned that the company could miss expectations on net revenue and adjusted EBITDA due to soft digital asset prices and unrealized crypto losses.

Colonnese also flagged the possibility of a large reported net loss linked to Coinbase’s crypto holdings and its stake in Circle. He noted that a significant headline loss could weigh on the stock’s performance following the earnings release, although he maintained a buy rating.

For users of crypto trading platforms and crypto-enabled betting services, the current market environment is relevant because exchange revenues are closely tied to trading activity. Lower volatility and reduced spot volumes can affect the financial performance of publicly listed exchanges such as Coinbase. At the same time, movements in Bitcoin and major altcoins directly influence the value of crypto balances used for trading, deposits, and withdrawals across platforms.

Our Assessment

Coinbase shares have declined sharply in early 2026 alongside a broader downturn in digital asset prices. Multiple analysts have reduced their price targets, citing weaker trading volumes, lower market capitalization, and softer stablecoin activity. Insider share sales by CEO Brian Armstrong have added to investor scrutiny ahead of the company’s earnings report. The combination of falling crypto prices, reduced spot activity, and revised earnings expectations defines the current environment surrounding Coinbase’s stock performance.

ARK Invest Buys $34 Million in Robinhood Shares as Bitcoin Drops Below $66,000 – Crypto Stocks and ETFs Face Renewed Outflows

Key Takeaways

ARK Invest Increases Exposure to Crypto-Linked Stocks During Market Weakness

ARK Invest, led by Cathie Wood, added significantly to its crypto-related equity positions on Wednesday as Bitcoin briefly dipped below $66,000. According to trade notifications, the firm bought 433,806 shares of Robinhood, valued at approximately $33.8 million.

In addition to Robinhood, ARK acquired 364,134 shares of crypto exchange Bullish, worth $11.6 million, and 75,559 shares of Circle, the issuer of the USDC stablecoin, valued at $4.4 million.

All three stocks were trading lower on the day of purchase. Robinhood shares declined nearly 9%, based on TradingView data. The purchases followed a broader period of volatility in digital asset markets and related equities.

ARK did not add to its Coinbase position. The firm had sold $17 million worth of Coinbase shares the previous week and refrained from new purchases during the latest round of buying.

Robinhood Becomes Largest Crypto Position in ARK Innovation ETF

Following the latest transaction, Robinhood stands as the largest crypto-linked holding in ARK’s flagship ARK Innovation ETF (ARKK). As of Feb. 11, the position accounted for approximately 4.1% of the fund’s portfolio, representing about $248 million.

The increased allocation comes shortly after Robinhood announced the official testnet launch of Robinhood Chain. The company described the project as a permissionless layer 2 blockchain designed for financial services and tokenized real-world assets.

Earlier in the week, Robinhood reported financial results for the fourth quarter of 2025. The company posted net revenue of nearly $1.28 billion, reflecting a 27% year-over-year increase. However, the figure fell short of Wall Street expectations of $1.34 billion. Following the earnings release, the stock declined about 8%.

The combination of earnings results, blockchain development announcements, and broader crypto market movements contributed to heightened volatility in Robinhood shares.

Bitcoin ETFs See $276 Million in Outflows as Prices Weaken

The broader weakness in crypto markets extended to US spot Bitcoin exchange-traded funds. After a three-day streak of inflows, Bitcoin ETFs recorded $276.3 million in net outflows on Wednesday, according to SoSoValue data.

These outflows nearly erased weekly gains. Net inflows for the week stood at $35.3 million following the latest withdrawals. Total assets under management across US spot Bitcoin ETFs declined to $85.7 billion, marking the lowest level since early November 2024.

Ether ETFs also experienced negative flows, with $129.2 million in daily outflows. XRP funds reported no inflows, while Solana ETFs posted modest net inflows of approximately $0.5 million.

At the time of publication, Bitcoin was trading at $67,227, up 0.4% over the previous 24 hours, according to CoinGecko data. The brief move below $66,000 occurred during a period of sustained volatility in crypto investment products.

Recent Outflow Trends in Crypto Investment Products

The latest ETF withdrawals follow three consecutive weeks of outflows from crypto investment products totaling more than $3 billion. Analysts had previously pointed to the possibility of an inflection point after a short period of renewed inflows, but the most recent data shows that momentum has not yet stabilized.

The renewed outflows reflect ongoing sensitivity in institutional and retail investment vehicles tied directly to Bitcoin and other digital assets. For users monitoring crypto exposure through regulated financial products, ETF flows serve as an indicator of capital movement and investor positioning.

The decline in ETF assets under management and the simultaneous drop in crypto-linked equities highlight how closely public market instruments remain tied to underlying digital asset prices.

Our Assessment

ARK Invest increased its exposure to Robinhood, Bullish, and Circle as Bitcoin briefly traded below $66,000 and crypto-linked stocks declined. Robinhood now represents the largest crypto-related position in ARK Innovation ETF. At the same time, US spot Bitcoin ETFs recorded significant net outflows of $276.3 million, reducing weekly gains and bringing total assets under management to their lowest level since November 2024. The data shows concurrent weakness across digital assets, exchange-traded funds, and publicly traded crypto companies.

Ethereum Drops Below $2,000 as Accumulation Addresses Absorb $2.6 Billion in ETH

Key Takeaways

Ether Falls Below $2,000 as Majority of Addresses Turn Unprofitable

Ether is trading below the $2,000 mark after declining 38% over the past month. At around $1,954, the cryptocurrency stands 60.5% below its all-time high of $4,950. The recent move lower has pushed a majority of Ethereum holders into unrealized losses.

Data shows that only 41.5% of Ethereum addresses are currently in profit, while more than 58% are holding at a loss. The drop has also placed the market price below several widely watched reference points, including the average entry price of accumulation addresses and the estimated cost basis of spot Ethereum ETF investors.

The average realized price for accumulation addresses is approximately $2,580. With ETH trading below that level, long-term holders categorized under these addresses are also under pressure. Similarly, the estimated average cost basis for spot Ethereum ETF investors stands near $3,500, placing those positions significantly underwater at current market levels.

One example of exposure to the downturn is BitMine, described as the world’s largest Ethereum treasury linked to investor Tom Lee. The company’s paper losses have reportedly grown to more than $8 billion as prices declined.

Accumulation Addresses Receive 1.3 Million ETH in Five Days

Despite the price weakness, blockchain data indicates increased inflows into so-called accumulation addresses. These wallets continuously receive ETH and do not make outgoing transactions. They are typically associated with long-term holders, institutional entities, or investors pursuing a buy-and-hold strategy rather than active trading.

Over a five-day period, accumulation addresses absorbed 1.3 million ETH, valued at approximately $2.6 billion at current prices. According to CryptoQuant analyst CW8900, this phase of “full-scale accumulation” began in June 2025 and has recently intensified.

The total ETH balance held by these accumulation addresses has now reached a record 27 million. That represents a 20.36% increase so far in 2026, even as Ether’s price has declined 34.5% during the same period.

Historical data referenced in the report shows that large spikes in inflows to accumulation addresses have previously preceded price rebounds. On June 22, 2025, these addresses recorded a then all-time high daily inflow of more than 380,000 ETH. Nearly 30 days later, Ether’s price had risen by almost 85%. A similar inflow spike in November 2025 was followed by a 25% rally.

ETF Investors Face Deeper Drawdowns Than Bitcoin Counterparts

The recent decline has also affected investors who gained exposure through exchange-traded funds. With ETH trading below $2,000, the market price is well under the estimated average ETF entry point of around $3,500.

According to Bloomberg senior ETF analyst James Seyffart, Ethereum ETF holders are currently in a weaker position compared to Bitcoin ETF investors. The data suggests that ETF exposure has not insulated investors from the broader downturn in Ether’s price.

The market price falling below both accumulation address cost bases and ETF averages highlights the scale of the recent correction. It also underscores the gap between current valuations and the levels at which significant volumes of ETH were previously acquired.

Technical Levels to Watch Below the $2,000 Threshold

With Ether trading under the $2,000 psychological level, analysts are focusing on additional support zones. One identified range lies between $1,800 and $1,850. If the market does not reclaim $2,000, further downside levels cited include $1,500.

On a broader timeframe, some chart-based assessments point to the possibility of a retest of the $750 to $1,000 range, based on historical monthly price action.

Onchain data from Glassnode’s UTXO realized price distribution provides additional insight into where large clusters of previous buying activity occurred. Below $2,000, key levels are identified at $1,880, $1,580, and $1,230. These price bands represent areas where significant amounts of ETH last changed hands and may act as areas of interest for market participants.

Previous reporting also referenced potential downside targets of $1,750 and $1,530 after Ether failed to hold above $2,100.

Our Assessment

Ether’s decline below $2,000 has left the majority of addresses in unrealized losses and placed the market price beneath the average entry levels of both accumulation addresses and ETF investors. At the same time, onchain data shows sustained and increasing inflows into long-term holding wallets, pushing their combined balance to a record 27 million ETH. The coexistence of falling prices and rising accumulation highlights a divergence between short-term market performance and long-term positioning among certain holder groups.

Key Takeaways

Ledger, the French digital asset security company known for its hardware wallets, has added decentralized exchange functionality to its Wallet app through an integration with OKX DEX. The update allows users to swap tokens directly within the Ledger ecosystem while keeping private keys secured on their physical devices.

The development reflects ongoing efforts by wallet providers to embed decentralized finance tools into self-custodial products, reducing the need for users to interact with multiple third-party platforms. For users managing crypto assets independently, the integration changes how token swaps can be executed without leaving the wallet environment.

How the OKX DEX Integration Works Inside Ledger Wallet

According to information provided by Ledger, the integration gives Wallet app users access to OKX DEX liquidity aggregation directly from the application interface. OKX DEX operates as a decentralized exchange aggregator, routing trades across multiple onchain liquidity sources rather than relying on a single exchange.

The routing process uses OKX DEX’s proprietary X-Routing technology. This system aggregates liquidity from hundreds of decentralized exchanges and determines execution paths for token swaps. Ledger stated that this process occurs without users needing to open external decentralized exchange websites or applications.

All transactions are signed on the Ledger hardware device itself. Private keys do not leave the device at any stage of the process. This design maintains Ledger’s core security model while adding decentralized trading functionality.

Supported Networks and Current Swap Limitations

At launch, the integration supports token swaps on six blockchain networks: Ethereum, Arbitrum, Optimism, Base, Polygon, and BNB Chain. These networks are accessible within the Ledger Wallet app for supported users.

Ledger clarified that cross-chain swaps are not available at this stage. Users can only swap tokens within the same supported network. In addition, cross-seed swaps are not enabled. These limitations define the current scope of the feature and set boundaries on how assets can be exchanged through the integrated DEX.

OKX DEX, as described by Ledger, operates separately from OKX’s centralized exchange. The DEX aggregator is part of the broader OKX ecosystem but routes trades exclusively through onchain liquidity venues.

Rollout Schedule and User Availability

The OKX DEX integration is being rolled out gradually. A Ledger spokesperson told Cointelegraph that approximately 20% of Ledger Wallet users are gaining access starting today. The company did not specify criteria for user selection during the initial phase.

No firmware update or application update is required to use the new functionality. This indicates that the feature is being enabled server-side or through existing Wallet app infrastructure. Ledger has not provided a timeline for when the remaining user base will receive access.

Context Around Ledger’s Broader Business Developments

The integration comes amid reports that Ledger is exploring a potential initial public offering in the United States. In January, multiple reports indicated that the company was in early discussions with investment banks including Goldman Sachs, Jefferies, and Barclays, with a possible valuation exceeding $4 billion.

Ledger has not confirmed these reports. However, the discussions were reported as part of a broader trend involving crypto-related companies considering public listings. Other firms referenced in recent coverage include tokenization platform Securitize, digital asset custodian Copper, and U.S.-based crypto exchange Kraken.

While these developments are separate from the OKX DEX integration, they provide context for Ledger’s position within the digital asset industry as it expands its product offerings and explores strategic options.

Relevance for Users Managing Crypto Assets Independently

For users who rely on hardware wallets for asset security, the integration alters how decentralized token swaps can be performed. Instead of moving assets to browser-based wallets or connecting to third-party DEX interfaces, swaps can now be initiated from within the Ledger Wallet app itself.

The feature is designed to preserve self-custody while providing access to aggregated onchain liquidity. This may affect how users compare wallet functionality, especially when evaluating tools that combine asset storage and decentralized trading features in a single interface.

Our Assessment

Based on the available information, the integration of OKX DEX into the Ledger Wallet app represents an expansion of on-device functionality while maintaining hardware-based custody. The rollout introduces multichain token swap access across six networks, with clear limitations around cross-chain functionality. The development aligns with Ledger’s stated security model and occurs alongside reported discussions about potential public market activity, though those reports remain unconfirmed by the company.