$1 billion in trading volume masks hidden liquidity risks for Coinbase stock token holders

More than $1 billion in reported trading makes Coinbase's stock tokens look active. For a holder looking to sell, the question is how much the market can absorb now, and at what price, particularly outside US equity hours.A Sept. 23 premarket check found indicative buy and sell routes for about $100,000 of each of Coinbase's ten stock tokens on Base. The estimated proceeds from selling were 0.06% to 0.71% below KyberSwap's own dollar valuation of the tokens offered. The routes price individual orders at one instant; they do not establish capacity for a simultaneous selloff.The ten principal Aerodrome stock/USDC pools held about $12.97 million in combined displayed balances during the check. Individual pools ranged from roughly $818,700 for MSFTc to $2.11 million for NVDAc. Those balances include both the stock token and USDC. The total alone leaves the amount available to absorb a sale within a specified price range unknown.Dromos Kitchen's stock-token dashboard put cumulative trading volume at about $1.02 billion and total tokenized value at $19.82 million on Sept. 23. Its community-built data carries a warning that it may be incomplete. Turnover accumulates across trades; it cann...