Coinbase to Join S&P 500 on May 19: COIN Price Gains Bullish Momentum

The post Coinbase to Join S&P 500 on May 19: COIN Price Gains Bullish Momentum appeared first on Coinpedia Fintech News Coinbase stock will replace Discover Financial Services in the S&P 500 effective May 19, 2025. COIN shares surged over 8 percent during Monday’s after-hours trading session. 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, on May 19, 2025. According to the announcement, Coinbase will replace Discover Financial Services (NYSE: DFS) in the S&P 500. Furthermore, Discover Financial Services is being acquired by Capital One Financial Corp. (NYSE: COF), a constituent of the S&P 500 index. The announcement received huge attention from the wider crypto community led by Michael Saylor, co-founder of Strategy . Moreover, the listing of Coinbase shares on the S&P 500 index further solidifies the growth and maturity 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. — Michael Saylor (@saylor) May 12, 2025 Coinbase Shares Ready for New ATH Following the announcement, COIN shares surged over 8 percent in Monday’s after-hours trading session to hover about $225. The large-cap company, with a market valuation of about $50 billion, successfully rebounded from a crucial support level above $150. As a result, the COIN stock market is well positioned to rally beyond a crucial resistance level of around $348 in the near term. In the daily timeframe, COIN’s MACD line recently crossed above the seton line, amid the growing bullish momentum confirmed by the rising histograms. Moreover , the company is heavily invested in Bitcoin and the wider altcoin market, which has signaled bullish momentum at the time of this writing. However, a consistent close below the recently established support level of around $150 will lead to further sell-off for COIN stock possibly towards the support level of around $116.

Source: coinpedia