Coinbase (COIN) After Hours on December 10, 2025: Key News, Price Action and What to Watch Before the December 11 Open

Coinbase Global, Inc. (NASDAQ: COIN) heads into the December 11, 2025 U.S. trading session at a delicate moment: the stock is drifting lower in extended and premarket trade, even as Wall Street, institutional partners and algorithmic models send mixed signals about its next move.

Below is a detailed, news-focused breakdown of what happened after the bell on December 10, 2025 and what traders and investors should know before the market opens on December 11.

This article is for informational and educational purposes only and is not financial advice. Always do your own research or consult a licensed professional before making investment decisions.

1. Where Coinbase Stock Stands After the Bell on December 10, 2025

Regular session: modest red after a volatile month

On Wednesday, December 10, 2025, Coinbase stock finished the regular session around $275 per share, slipping roughly 0.8–0.9% on the day.
Data from multiple price services show:

• Open: about $273.20
• Intraday range: roughly $270.8 – $279.4
• Close: around $275 (sources differ slightly between ~$274.96 and $275.09, but both put COIN effectively flat to modestly lower). ^[1]
• Volume: about 6.3–6.7 million shares, in line with its ~6.3 million average daily volume over the past year. ^[2]

Over the past month, Simply Wall St estimates that COIN has fallen about 11%, and roughly 14% over the past three months, even as crypto trading activity has remained robust. ^[3] A separate 247WallSt analysis notes that the stock is down about 11–12% from its November peak, reflecting growing skepticism about how sustainable its current revenue run rate really is. ^[4]

After-hours and premarket: gentle downward drift

• On Investing.com’s real‑time quote page, Coinbase closed the official session at $274.96, then slipped to about $273 in after-hours trading by early evening in New York. ^[5]
• MarketChameleon’s premarket feed later showed COIN last trading near $270.05 before the December 11 open, on almost 381,000 shares, roughly in line with its typical premarket activity. ^[6]

Taken together, that’s a gentle post‑close drift lower: from about $275 at the close to roughly $270 in early premarket, suggesting mild selling pressure rather than a panic exit.

Key current valuation metrics

Across MarketBeat, StockAnalysis and price-history services, the stock currently screens roughly as follows:

• Market cap: about $74 billion ^[7]
• Trailing 12‑month revenue: roughly $7.4 billion
• Trailing net income: about $3.2 billion
• Trailing EPS: ~$11.5
• Trailing P/E: around 23–24x, with forward P/E estimates in the low‑40s TechStock²+1
• 52‑week range: approximately $142.58 – $444.65 – underscoring just how volatile COIN has been in 2025. ^[8]
• Balance sheet: debt‑to‑equity around 0.37, with both quick and current ratios near 2.4, pointing to solid liquidity. ^[9]

At around $270–275, Coinbase trades about 40–45% below its 2025 all‑time high near $445, and more than 20% below the late‑October spike driven by a JPMorgan upgrade. TechStock²+1

2. The Biggest Coinbase Headlines on December 10, 2025

Several company‑specific news items hit the tape on December 10, helping shape after‑hours sentiment around the stock.

2.1 Bank of America trims its price target on COIN

Bank of America (BofA) cut its price target on Coinbase from $358 to $341 on December 10, according to MT Newswires and a TipRanks blockchain‑stocks roundup. ^[10]

Key implications:

• Even after the cut, BofA’s $341 target still sits notably above the current ~$275 share price, implying upside — but less than before. ^[11]
• The reduction fits a recent pattern of large banks edging targets down after COIN’s Q3 rally, as they balance strong fundamentals against the risk of a prolonged crypto slowdown.

This move contrasts with the broader Street, where average 12‑month targets still cluster around $390–$400, implying roughly 40% upside from current levels. ^[12]

2.2 CEO Brian Armstrong sells another 40,000 shares

On December 10, MarketBeat reported that CEO Brian Armstrong sold 40,000 Coinbase shares on December 8 at an average price of $273.86, generating proceeds of about $10.95 million. ^[13]

The article notes this is part of an ongoing pattern:

• Armstrong has repeatedly sold 25,000–40,000‑share blocks since September at prices ranging from the low $250s to the mid‑$360s. ^[14]

While insider sales don’t automatically mean management is bearish — executives often sell for diversification or tax reasons — the optics of continuous CEO selling near current levels can weigh on short‑term sentiment, especially after a big year‑to‑date run.

2.3 Network issues: Arbitrum delays

A brief Reuters update on December 10 flagged that Coinbase is aware some users are experiencing delayed sends and receives on the Arbitrum network. ^[15]

The company has issued similar bulletins in recent weeks for other networks such as Optimism and Unichain, usually stressing that core trading and fiat deposits/withdrawals remain unaffected. ^[16]

For now, these appear to be localized, blockchain‑specific issues rather than a platform‑wide outage, but they do highlight:

• How deeply Coinbase is integrated with multiple L2 and alt‑L1 ecosystems, and
• The operational complexity of maintaining uptime across dozens of networks.

2.4 Nanhua Futures’ U.S. unit gains access to Coinbase Derivatives

MT Newswires reported that the U.S. unit of Nanhua Futures, a major Chinese futures firm, has gained trading access to Coinbase Derivatives. ^[17]

This is a niche but telling development:

• It underscores Coinbase’s push to expand its regulated derivatives franchise, particularly after the Deribit acquisition. TechStock²+1
• It adds another institutional client to the derivatives platform — a line of business that tends to be more capital‑efficient and often more profitable than retail spot trading.

While unlikely to move tomorrow’s stock price by itself, deals like this quietly reinforce the “infrastructure provider” side of the COIN story.

2.5 The PNC partnership continues to reverberate

Although announced on December 9, the market is still digesting Coinbase’s landmark Crypto‑as‑a‑Service (CaaS) partnership with PNC Bank:

• PNC has become the first major U.S. bank to offer direct spot Bitcoin trading to eligible Private Bank clients inside its own digital banking app. ^[18]
• Coinbase provides the trading, custody and infrastructure layer powering this feature via its CaaS platform. ^[19]

This is strategically important because:

• CaaS revenue is B2B and fee‑based, and tends to be less cyclical than retail trading volume.
• It signals that large, regulated banks are increasingly willing to outsource crypto infrastructure to Coinbase rather than build it themselves, validating COIN’s positioning as a “crypto plumbing” provider for traditional finance.

3. Analyst Views and Valuations Going Into December 11

3.1 Street ratings: still “Moderate Buy,” but with caution

Across several platforms:

• MarketBeat reports that 1 analyst rates COIN a Strong Buy, 17 a Buy, 11 a Hold and 1 a Sell, for an overall consensus of “Moderate Buy” and an average price target around $396.94. ^[20]
• StockAnalysis and related data cited by TechStock² count around 28 analysts with an average target near $389, again implying roughly 40% upside from current prices. TechStock²

Recent moves include:

• JPMorgan’s October upgrade to Overweight with a $404 target, which helped trigger a sharp rally in COIN in late October. TechStock²+1
• Goldman Sachs’ December 5 cut from $314 to $294, maintaining a Neutral rating and arguing that a lot of good news is already in the price after the post‑earnings rally. TechStock²
• BofA’s fresh December 10 cut from $358 to $341, discussed above. ^[21]

Net‑net, the sell‑side still sees Coinbase as a quality crypto infrastructure play with substantial upside, but the dispersion of targets — roughly $220–$530+ across houses — is unusually wide, reflecting disagreement about how sustainable the current earnings power is. TechStock²+1

3.2 Fundamental valuation: “undervalued” or “overvalued,” depending on the lens

A December 9 Simply Wall St piece highlights just how model‑sensitive Coinbase’s valuation is right now: ^[22]

• Their “narrative fair value” approach, which leans on Coinbase’s role as a trusted on‑ramp with deep institutional partnerships (BlackRock, PNC, JPMorgan, Stripe, Shopify, etc.), pegs fair value around $383.46 — about 28.5% above the recent ~$274–275 share price. ^[23]
• Their discounted cash flow (DCF) model, by contrast, arrives at a fair value near $127.61, suggesting COIN is meaningfully overvalued if you assume more conservative long‑term growth and margins. ^[24]

That split illustrates a critical point for tomorrow’s open: your view on COIN depends heavily on what you believe about long‑term crypto adoption and fee compression.

3.3 Short‑term technical/algorithmic forecasts

Algorithmic models are more cautious than most human analysts:

• CoinCodex, using technical indicators as of late on December 10, assigns COIN a “neutral” sentiment: 15 indicators flashing bullish vs. 11 bearish. ^[25]
• Its short‑term forecast calls for a small move higher:
  • Tomorrow’s projected price: about $277–279, roughly 0.8% above current levels. ^[26]
  • Next week: a marginal gain to around $278–279 (about +0.5% from today). ^[27]
• Over one year, however, the same model forecasts COIN around $181.81, or roughly 34–35% below current prices, and sees 2030 value much lower still (around $40, though these ultra‑long‑term numbers are best treated as curiosity rather than precise guidance). ^[28]

CoinCodex explicitly concludes that, based on its algorithm, Coinbase is “not a good stock to buy” today because the model expects a significant decline over the next year. ^[29]

3.4 Alternative‑data view: Meyka’s snapshot

AI‑driven research platform Meyka published a same‑day article on December 10 noting: ^[30]

• COIN’s current price near $272 represents about a 23.6% gain year‑to‑date, but still a steep discount to its 52‑week high.
• The stock has a strong “Buy” consensus, with an internal tally of 17 Buy and 6 Hold ratings and price targets ranging from roughly $217 to $510.
• Its analysis highlights that COIN’s P/E near ~24 is not extreme for a profitable fintech‑style platform with strong growth, but the name remains highly volatile and sentiment‑driven.

The big takeaway: qualitative and quantitative analysts broadly agree that Coinbase is a high‑beta, high‑uncertainty play whose fair value is hard to pin down.

4. Macro and Crypto Backdrop: Coinbase Rides a “Reset” in Digital Assets

Coinbase’s fate is still closely tied to the broader crypto cycle, and December 10 commentary centered heavily on the idea that the market may be emerging from a “reset.”

4.1 Coinbase Institutional: crypto has “hit reset”

A widely circulated new report from Coinbase Institutional, summarized on Yahoo Finance and mirrored by multiple crypto outlets, argues that: ^[31]

• After two months of bearish pressure, with Bitcoin and Ethereum falling more than 25% from recent highs, market leverage and speculative froth have been “flushed out.”
• Funding rates and derivatives positioning have normalized, and liquidity conditions are improving.
• With Fed rate‑cut odds for early 2026 now around 90%+ and real yields easing, macro conditions could become supportive for risk assets, including crypto, into year‑end.

The report frames December as a potential turning point: not a guarantee of new all‑time highs, but a possible transition from liquidation to accumulation, especially if macro data and central‑bank messaging cooperate.

4.2 Crypto volatility feeds directly into COIN

Recent coverage from 247WallSt and others notes that Coinbase has dropped double‑digits from its November peak in tandem with a brutal pullback in Bitcoin, as retail enthusiasm cooled and Reddit sentiment turned more skeptical about COIN’s revenue durability. ^[32]

Conversely, when COIN posted its Q3 2025 earnings beat on October 30 — revenue of about $1.87 billion (vs. ~$1.78B expected) and EPS of $1.44 (vs. roughly $1.20 forecast) — the stock jumped around 5% the following day as markets repriced its earnings power. ^[33]

The message for tomorrow’s open:

• Short term, COIN is still a high‑beta proxy for Bitcoin and Ethereum, magnifying both rallies and drawdowns.
• Medium term, growing B2B and subscription revenues (CaaS, derivatives, stablecoins, Base L2, etc.) may gradually reduce that dependency — but not eliminate it.

5. What to Watch Before the U.S. Market Opens on December 11, 2025

Here are the key factors that could influence how Coinbase trades at the open and throughout Thursday’s session.

5.1 Pre‑market action and key price levels

Going into the premarket, COIN last changed hands around $270.05, modestly below Wednesday’s close. ^[34]

Short‑term traders will be watching:

• Whether buyers step in near the ~$270 support area, which lines up with Wednesday’s intraday low (~$270.76). ^[35]
• If the stock can reclaim the $275–280 band that has defined the last few days’ range. ^[36]
• Technical signals: CoinCodex data show COIN trading below its 50‑, 100‑ and 200‑day moving averages, even though its very short‑term (3‑ to 10‑day) moving averages have turned back to “BUY,” highlighting a tug‑of‑war between short‑term bounces and a still‑weak intermediate trend. ^[37]

5.2 Overnight crypto moves

Because of its high beta to Bitcoin and other large coins, COIN’s gap at the open will likely echo:

• Whether Bitcoin holds or extends any overnight bounce, or
• Whether it revisits early‑December lows that rattled crypto‑linked stocks and triggered risk‑off flows across the sector. ^[38]

Traders should expect COIN to over‑react to sharp BTC moves: it often swings 2–3x the underlying crypto on big days.

5.3 Follow‑through from the BofA target cut

The BofA price‑target move is fresh enough that:

• Other analysts may issue follow‑on notes Thursday, either echoing the caution or defending higher targets. ^[39]
• Investors will be watching for flows in COIN options or ETF holdings (e.g., leveraged COIN ETFs) that signal institutions repositioning around the new target backdrop.

If additional houses trim targets without changing ratings, it would reinforce the idea that the earnings story is solid but fully priced at current multiples.

5.4 Market reaction to insider selling

The MarketBeat piece on Armstrong’s latest sale landed during the December 10 session but will likely circulate more widely by tomorrow morning. ^[40]

Expect:

• Short‑term traders and social‑media commentators to debate whether repeated CEO share sales are a red flag or just routine diversification.
• Longer‑term holders to scrutinize any new Form 4 filings for additional large disposals in the days ahead.

If COIN sells off hard on Thursday, some of that could reasonably be chalked up to headline‑driven jitters around insider selling.

5.5 Ongoing network‑reliability headlines

Although the Arbitrum delay is minor compared with a full exchange outage, Coinbase has now reported several network‑specific slowdowns (Optimism, Unichain, Celestia, Flow and now Arbitrum) over recent weeks. ^[41]

Heading into December 11, investors are likely asking:

• Are these just normal growing pains of supporting dozens of chains, or
• Do they hint at future support‑cost and reliability risks that could pressure margins?

Any overnight updates on the Arbitrum issue — resolution or escalation — could nudge sentiment around COIN’s operational resilience.

5.6 Impact of institutional deals: PNC and Nanhua Futures

Finally, keep an eye on whether the PNC partnership and Nanhua Futures access continue to attract attention:

• If analysts frame these deals as evidence that Coinbase is becoming “the default crypto back‑end for banks and brokers,” they may support a higher multiple even if trading volumes cool. ^[42]
• Any color from upcoming investor‑relations events (Goldman Sachs and Nasdaq conferences) could further clarify management’s expectations for CaaS and derivatives revenue. TechStock²+1

6. Key Takeaways for Traders and Long‑Term Investors

Heading into the December 11, 2025 open, Coinbase sits at the crossroads of conflicting narratives:

• Price & trend: The stock is well off its 2025 highs and has pulled back double‑digits from its November peak, yet it still trades at a mid‑20s earnings multiple with high volatility and beta. ^[43]
• Fundamentals: Q3 results showed strong growth and profitability, with revenue up ~55% year‑over‑year and net margins near 42%, but everyone knows that trading revenue is cyclical. ^[44]
• Valuation: Human analysts, narrative models and DCFs disagree widely — from undervalued by ~30% to significantly overvalued — and algorithmic forecasts lean bearish over a one‑year horizon. ^[45]
• Strategic story: Institutional wins like PNC’s direct Bitcoin trading and Nanhua’s derivatives access strengthen the case that Coinbase is building a durable infrastructure franchise, not just a retail trading venue. ^[46]
• Macro & crypto: Coinbase’s own research says the crypto market has gone through a “reset” and could see a December rebound if improving liquidity and high Fed‑cut odds hold — but there’s no guarantee the market will cooperate. ^[47]

For short‑term traders, tomorrow will likely hinge on Bitcoin’s overnight direction, COIN’s ability to defend the $270 area, and whether news flow around Armstrong’s sale and the BofA cut triggers follow‑on selling or dip‑buying.

For long‑term investors, the question is more fundamental:

• Do you believe Coinbase can compound high‑margin infrastructure and subscription revenues fast enough to offset cyclicality, fee compression and regulatory risk?
• Or do you side with the more cautious models that forecast much lower prices once today’s cycle fades?

Either way, the stock is set up for another eventful session on December 11, with macro, crypto and company‑specific news all in play.

References

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