US stock market closed for the weekend; meanwhile the token side keeps running. COIN jumped about nine percentage points, to over 194 yuan. Without regular-stock order matching, this price was basically set by the weekend order book; it may not match what the price will be when trading opens on Monday. Bitcoin (big pie) in the same period was up nearly four percentage points. Coinbase’s business depends on the coin price and trading volume, so it’s not surprising that it moves more aggressively than Bitcoin. But on the weekend the liquidity depth is only a few million; large orders going in and out will create slippage, and you’ll have to take the hit yourself.