- On May 19, 2025, Coinbase will take the place of Discover Financial Services in the prestigious S&P 500.
- COIN shares skyrocket by 8% after Monday’s after-hours trading session. That’s right, 8%—talk about a rollercoaster!
Well, hold on tight, folks! Coinbase Global Inc. (NASDAQ: COIN), the shining beacon of cryptocurrency, is officially joining the S&P 500 index on May 19, 2025. In a thrilling twist, it will replace Discover Financial Services (NYSE: DFS). As if crypto wasn’t already the talk of the town, now it’s hanging out with the big boys of the stock market. And if that’s not enough excitement, Discover Financial Services is being gobbled up by Capital One Financial Corp. (NYSE: COF), which is already in the S&P 500 club.
The crypto community—led by none other than Michael Saylor, co-founder of Strategy—is buzzing with anticipation. Coinbase’s addition to the S&P 500 is seen as the ultimate badge of honor, signaling the maturation of both the cryptocurrency market and blockchain technology. It’s like they’ve gone from playing in the kiddie pool to swimming with sharks.
Congrats @Brian_Armstrong on $COIN joining the S&P 500 Index! A major win for Coinbase and Bitcoin. 🏅
— Michael Saylor (@saylor) May 12, 2025
COIN Shares Set to Break New Records – Or At Least Try
In the aftermath of this game-changing announcement, COIN shares surged a magnificent 8% during Monday’s after-hours trading session, reaching a lovely $225. This large-cap company, valued at a cool $50 billion, rebounded from a vital support level just above $150. It’s like they hit the gym and came out looking stronger than ever.
Now, let’s talk future potential. COIN’s stock looks poised to surpass a crucial resistance level of around $348 in the near term. It’s like the stock market gods are aligning—COIN’s MACD line recently crossed above the seton line, and the bullish momentum is undeniable. All those rising histograms are practically begging for another ATH (All-Time High). 🙌
And yes, before you ask, Coinbase is all-in on Bitcoin and the wider altcoin market, which, as we speak, is also showing bullish signs. However, if COIN were to close consistently below that support level of $150, brace yourself for a sell-off that could plunge to a gloomy $116. It’s a crypto rollercoaster—don’t say we didn’t warn you. 🎢
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2025-05-13 01:28