Coinbase Snaps Up Solana's Vector — Yet COIN Flashes A Major Sell Signal - Coinbase Global (NASDAQ:COIN)

Group 1 - Coinbase Global Inc. has reached an agreement to acquire Solana's Vector, a trading platform that enhances access to fast, on-chain markets [1] - The integration of Vector's tools into Coinbase's consumer trading experience aims to expand access to Solana-based assets and improve speed, liquidity, and support for assets within Solana's ecosystem [2][3] - Solana's on-chain markets are projected to process over $1 trillion in DEX volume by 2025, positioning it as a rapidly growing liquidity hub in the cryptocurrency space [3] Group 2 - Coinbase's strategic move aligns with its goal to build "the everything exchange," which focuses on faster and more global on-chain trading [3] - The standalone apps of Vector will be shut down during the transition, while the Tensor Foundation will continue to operate independently [3] - The acquisition deal is expected to close by the end of the year, pending standard approvals [3] Group 3 - Coinbase's stock (COIN) has experienced a significant drop of 18% to $238 after breaking below its multi-month triangle support, indicating a shift back to seller control [7] - The stock is currently trading below its major moving averages, indicating growing pressure [8] - The critical support zone for COIN is identified between $235 and $240, which has previously acted as support [10][11]