TechFlow news, June 27 — According to Coindesk, Markus Thielen, founder of 10x Research, stated that the stock price of Coinbase (COIN), a cryptocurrency exchange listed on Nasdaq, is rapidly approaching an overvalued range. Thielen noted that Coinbase's fundamentals, particularly trading volume growth, have failed to keep pace with its stock price surge, forming a typical "tactical reversal" pattern. Based on this assessment, he recommends investors adopt a pairs trading strategy: shorting COIN shares while going long on bitcoin to hedge against a potential correction in Coinbase's stock price.
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