The Yieldmax Coin Option Income Strategy ETF (CONY) closed down 2.1% at $13.04 on December 31, as its underlying asset, Coinbase Global Inc. (COIN), saw a 2.91% decline to $248.12. The drop in Coinbase's stock price was influenced by broader market concerns affecting the cryptocurrency sector, which remains highly cyclical and sensitive to shifts in investor sentiment. The decline in COIN reflects ongoing volatility in the crypto market, with investors cautious amid regulatory uncertainties and fluctuating demand.