Coinbase-Linked COINUSDT Contract Falls 3.67% to $173.83

Binance’s COINUSDT perpetual contract, which tracks Coinbase common stock, fell 3.67% to $173.83 in a 24-hour snapshot on Oct. 17. Its reported range was $169.15 to $183.78. The contract trades around the clock, so its 24-hour window can include hours when U.S. stock markets are closed.

The contract price was below all four listed simple moving averages: $177.75 over seven days, $182.37 over 20 days, $184.01 over 50 days and $175.81 over 200 days.

A $230 price target attributed to Citi was 32.3% above the $173.83 contract price. The target applies to Coinbase shares, while COINUSDT is a perpetual contract, so the figures refer to different instruments. The contract tracks Coinbase common stock; it is not a tokenized share.