# Cross-Exchange COINUSDT Aggregate Falls 2.47% Before Nasdaq Opens By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/52224 Published: 2026-11-09T10:51:43.000Z Updated: 2026-11-09T10:51:43.000Z Section: Investing > A cross-exchange COINUSDT aggregate stood at $130.91 at 4:50 a.m. ET, before Nasdaq's 9:30 a.m. ET regular-session open. The derivative tracks Coinbase common stock. A cross-exchange aggregate for COINUSDT stood at $130.91 at 4:50 a.m. ET (9:50 UTC) Nov. 9, down 2.47% over 24 hours before Nasdaq's 9:30 a.m. ET regular-session open. Binance's COINUSDT contract is an equity perpetual settled in Tether (USDT) that tracks Coinbase common stock and trades around the clock. The $130.91 figure is a cross-exchange aggregate, separate from a trade in Coinbase shares. Morgan Stanley downgraded Coinbase to Underweight from Equal-weight on Nov. 2 and cut its share-price target to $120 from $258. The [downgrade]() was a separate development from Monday's COINUSDT price observation; the target applies to Coinbase shares, not the contract. Coinbase's [third-quarter results]() for the period ended Sept. 30 showed total revenue of $1.2156 billion, down 35% year over year. Transaction revenue fell 44% to $590.2 million. ## Links in this article - [downgrade](https://www.tokenpost.com/news/insights/46416) - [third-quarter results](https://www.tokenpost.com/news/business/44131)