Skip to content
Fear & Greed30 Fear
Crypto market$2.69T−1.6%24h breadth42 up211 downBitcoin$78,693−1.8%Ethereum$2,252−2.8%Solana$98−1.8%XRP$1.27−2.1%BNB$717−5.1%Top gainersKNTQ$0.543+21.9%HYPE$93+18%RUNE$0.688+13.2%Top losersBLAST$0.000016−48%BTW$1.47−17.8%SENT$0.018−16.1%StocksNVDA$214−0.8%TSLA$403−0.2%AAPL$349+1.5%MSFT$530−0.2%COIN$161−1.1%
Advertisement
Coinbase’s tokenized stocks exceed $1B in DEX trading volume within first month

Coinbase’s tokenized stocks exceed $1B in DEX trading volume within first month

Base-native tokenized equities from Nvidia, Apple, and Meta saw an 830% volume surge as non-US traders pile into 24/7 stock markets built on blockchain rails.

by Editorial Team

2 min read

In Finance, Stocks

Share

Add us on Google

Coinbase Global, Inc. (COIN) price

Full chart and stats

Loading chart…

Market cap
$42.5B (shares as of 2026-09-30)
P/E (trailing)
Not meaningful: trailing loss. Diluted EPS −2.53 for 2025-10-01 to 2026-09-30, rolled from reported annual and year-to-date EPS (approximate) SEC filing
Annual revenue
$7.2B USD (FY ended 2025-12-31) 10-K
Annual revenue growth
+9.4% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
Annual net income
1,260,327,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
Annual operating margin
20.0% (FY ended 2025-12-31)
Forward P/E
Unavailable: no dated forecast source

Gloria daily close for session Oct 29, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

Coinbase Global, Inc. and its peers

Company PriceMarket capP/E (trailing)Forward P/EAnnual revenue (USD)Annual revenue growthAnnual net income (USD)Operating margin
Coinbase Global, Inc. COIN · Price dated Oct 29, 2026 · tokenized COINx $161$42.5BNot meaningfulLoss, diluted EPS −2.53
to 2026-09-30 · SEC filing		Unavailable$7.2BFY ended 2025-12-31 · 10-K+9.4%FY ended 2025-12-31 vs 2024-12-31 · 10-K1,260,327,000FY ended 2025-12-31, attributable to the company · 10-K20.0%FY ended 2025-12-31
Strategy Inc MSTR · Price dated Oct 29, 2026 · tokenized MSTRx $142UnavailableNot meaningfulLoss, diluted EPS −96.98
to 2026-06-30 · SEC filing		Unavailable$477.2MFY ended 2025-12-31 · 10-K+3.0%FY ended 2025-12-31 vs 2024-12-31 · 10-K−3,848,152,000FY ended 2025-12-31, attributable to the company · 10-K−1,140.8%FY ended 2025-12-31
Circle Internet Group, Inc. CRCL · Price dated Oct 29, 2026 · tokenized CRCLx $80Unavailable16.0Unavailable$2.7BFY ended 2025-12-31 · 10-K+63.9%FY ended 2025-12-31 vs 2024-12-31 · 10-K−69,508,000FY ended 2025-12-31, attributable to the company · 10-K−3.5%FY ended 2025-12-31
Bitmine Immersion Technologies, Inc. BMNR · Price dated Oct 29, 2026 · tokenized BMNRx $22$13.1BNot meaningfulLoss, diluted EPS −4.50
to 2026-05-31 · SEC filing		Unavailable$6.1MFY ended 2025-08-31 · 10-K+84.1%FY ended 2025-08-31 vs 2024-08-31 · 10-K348,577,000FY ended 2025-08-31, attributable to the company · 10-K7,288.1%FY ended 2025-08-31

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 29, 2026, 12:47 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Coinized versions of major US equities trading on Coinbase’s Base network have blown past $1 billion in decentralized exchange volume in roughly their first month of existence.

The milestone, recorded as of September 19, represents an 830.5% month-over-month increase in trading volume.

Advertisement

How the tokenized stocks work

Coinbase launched its tokenized equities on August 24, starting with four of the most recognizable tickers in global finance: Nvidia (NVDAc), Apple (AAPLc), Alphabet (GOOGLc), and Meta (METAc). Each token is built using the B20 token standard and represents a 1:1 claim on the underlying share, which is held in regulated custody.

These tokens live natively on Base, Coinbase’s layer-2 network, and trade on decentralized exchanges rather than through a centralized order book. The product is currently restricted to eligible non-US users only.

The numbers behind the surge

Cumulative DEX volume on Base for these tokenized stocks hit approximately $228 million by the end of August. On September 12 alone, a single-day record of $100 million in trading volume was recorded. By September 19, the 30-day rolling volume had crossed the $1 billion threshold.

The liquidity picture is notably concentrated. Aerodrome, the leading DEX on Base, has captured somewhere between 76% and 96% of all tokenized stock trading volume during this period.

Price tracking has been tight, with the tokenized versions exhibiting only minor premiums and discounts relative to their real-world counterparts.

Traded on-chain

Explore tokenized products tracking Coinbase Global, Inc. Open a product to see its price, network and observed pools. Access depends on the venue and where you live.

COINxBacked · Solana$152.97
Token price
$152.97
Issuer
Backed
Network
Solana

Price from the pool with the highest reported reserves below. Token units may differ from one share.

Where to trade COINx

Pool liquidity

Source: GeckoTerminal. Retrieved Oct 30, 2026 03:15 UTC · Delayed. Source and pools · Verify token contract Top three active pools by reported total reserves from the provider’s first 20 results. Each list covers this issuer, network and contract only. Products may have different share multipliers and rights. Pool reserves are not executable depth or guaranteed execution quality. Not a recommendation.

COINonOndo · BNB Chain$150.01
Token price
$150.01
Issuer
Ondo
Network
BNB Chain

Price from the pool with the highest reported reserves below. Token units may differ from one share.

Where to trade COINon

Pool liquidity

Source: GeckoTerminal. Retrieved Oct 30, 2026 03:15 UTC · Delayed. Source and pools · Verify token contract Top three active pools by reported total reserves from the provider’s first 20 results. Each list covers this issuer, network and contract only. Products may have different share multipliers and rights. Pool reserves are not executable depth or guaranteed execution quality. Not a recommendation.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

More in Finance

See all
Previous storyBlink Wallet pauses services after attacker drains custodial accounts