Coinbase ( NASDAQ: COIN ) was extending its losses for the seventh straight session on Tuesday as its shares slid 2.38% to $370.45 during afternoon trading. The crypto firm’s shares have declined more than 8% in the preceding six sessions. On a year-to-date basis, however, it has raced by over 53% widely outpacing the 8.64% rise in the broader S&P500 index. On July 18, the company’s shares ended 2.20% higher after President Trump signed the GENIUS Act into law, a landmark bill that establishes a regulatory framework for stablecoins. Seeking Alpha analyst Mike Fay had said that Coinbase was one of the biggest immediate winners in the public markets with the passing of the act. COIN started its downward trend from the following trading session on July 21, when it closed 1.47% lower. It also followed Seeking Alpha analyst Oriental Trader issuing a Sell call despite the pro-crypto regulation, arguing that Coinbase has struggled to improve its fundamentals or push revenue beyond prior cycle highs. “COIN's market cap now exceeds established exchanges like CME and ICE, which is unjustified given its limited economic utility compared to those platforms,” the analyst said. Overall, SA analysts have a Buy rating for the stock with 16 analysts assigning a Buy or above rating, 14 recommending Hold and two issuing a Strong Sell call. Wall Street analysts also echoed the same rating for the stock. However, as per Seeking Alpha’s quant rating, the company has a Hold call with a score of 3.32 out of 5, lifted by an A+ grade in growth and momentum but dragged by an F grade for valuation. More on Coinbase Rethinking CONY As Coinbase Rallies - Tactical Use, Not Income Plan Coinbase Is Soaring But My Thesis Has Broken Down (Rating Downgrade) Indian crypto exchange CoinDCX denies report of Coinbase takeover talks Market Voices: Trump on global tariff rate, Russia; PayPal goes crypto