10 Firms Suffer Steep Downfall on Monday

3. Coinbase Global Inc. (NASDAQ:COIN)

Coinbase Global lost 17.58 percent of its value on Monday to end at $179.23 apiece as investor sentiment was influenced by an overall market pessimism.

Similar to other Bitcoin mining firms, COIN traded lower in line with the drop in Bitcoin prices, which are at the $79,000 level as of this writing.

Investors shunned news that the company’s Coinbase Derivatives LLC, a CFTC-regulated futures exchange, is launching the first 24/7 Bitcoin and Ethereum futures contracts.

“[This would give] US traders uninterrupted access to manage risk and seize opportunities—just like crypto,” it said.

COIN added that it was also developing a perpetual style futures contract which unlocks a key product that US traders “have been missing.”

“Built in response to strong demand from crypto-native traders, these innovations make US markets more accessible, competitive and aligned with global standards,” COIN said.