$COIN sitting right at AVWAP from IPO. Clean technical setup here—anchored volume-weighted average price is basically the market's cost basis since day one. The +/- 20% bands give you clear risk parameters: break above and you're looking at a retest of the upper band around $340-350, fail here and support sits near $225-240. This is textbook institutional positioning—AVWAP from IPO acts as a magnet for mean reversion trades. If you're long crypto exposure through equities, this is a cleaner setup than chasing spot. Watch how it reacts at this level over the next few sessions. Price discovery from here tells you whether institutions are still accumulating or distributing into strength.