Coinbase Global Inc. (NASDAQ: COIN) Will Join the S&P 500 Index on May 19, 2025

Coinbase Global Inc. (NASDAQ: COIN) will be listed as part of the S&P 500 index, which tracks large-cap companies in the United States

Coinbase Global (NASDAQ:COIN) will be included in the S&P 500 index, which follows large-cap U.S. equities, starting May 19, the index provider announced Monday.

Coinbase will take the place of Discover Financial Services (NYSE:DFS), which is being acquired by Capital One Financial Corp (NYSE:COF), a component of the S&P 500. The attention of the crypto community was drawn to the news, with Michael Saylor, co-founder of Strategy, making a comment.

The listing of Coinbase shares on the S&P 500 index marks a significant step in the development of the cryptocurrency market and blockchain technology.

“Congratulations @Brian_Armstrong on $COIN being added to the S&P 500 Index. A major milestone for Coinbase and for Bitcoin,” Saylor stated.

Following the announcement, COIN shares rose more than 8 percent in after-hours trading on Monday to reach around $225. The large-cap company, which has a market valuation of about $50 billion, managed to recover from a key support level above $150.

As a result, the COIN stock price prediction is set for a rally towards the next crucial resistance level of about $348 in the near term. In the daily timeframe, the MACD line crossed above the signal line, highlighting the increasing bullish momentum, which is also confirmed by the rising histograms.

Coinbase is a major player in the Bitcoin market and also holds a diversified portfolio of altcoins, which are currently signaling bullish momentum.

However, a sustained move below the recently established support level of about $150 may open the door for further sell-off for COIN stock towards the next support level of about $116.

News data source: kdj.com

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