The Coinbase (Coin) Stock stopped trading at $ 256 on Tuesday, May 13, after posting 23% intraday benefits. The rally at a high level of the 12-week comes ahead of the coin stock listing on the S&P500 on 19 May, which will make the exchange the first US Crypto company to debut on the benchmark index.
Coin Stock S&P sleeps on 500 listing
The recent advantage in the coin stock price has increased the coinbase to add more than $ 15 billion to its market cap within three days, it is expected to continue with the top speed as it trades with veterans like Apple, Microsoft and Nvidia.
The inclusion of a coinbase in the index also marks an important point for the exchange and crypto industry, given strict requirements that companies have to join the S&P500. This includes adequate liquidity for six consecutive months and positive earnings in the last four quarters.
Therefore, it is likely that coin stocks continue to expand the benefits in the coming weeks as the investor in the company strengthens confidence.
Crypto community is “major milestone”
Top voices in the Crypto industry have reacted to the news around the coinbase stock that joins the benchmark index. Michael Sure, Executive Chairman of US-Listed Bitcoin centered microstratiIt suggests that the S&P 500 was a major milestone for the coinbase and for bitcoin. ” Last year, MSTR MSCI joined the World Index and Russell 1000.
At the same time, the Chairman of ETF Store, NAT Gresi, noted that the manager of Wall Street Fund who is shot to bitcoin and Etharium ETF Products The coin will be forced to allocate capital for stock. He said,
“Think about how many pawn investors will now be the owner of the coinbase. But they can’t buy BTC or ETH ETF on the brokerage platform of Mohra. Mohra is fighting a losing battle over it.”
Bitwaiz co-founder Mat Hogan also notes Apart from coinbase for S&P 500, his thesis proves that the company has the highest chance to kill the $ 1 trillion valuation in the future.
Betwiz’s forecast flows to $ 15B for coinbase
Bitwaiz, the head of research in Ryan Rasmusen, guesses that coinbase stock will attract $ 15 billion in inflow from investors as it is First crypto company on S&P500He notes that these flows will come from $ 11 trillion in institutional funds, exchange-traded products and derivatives from Derivatives to S&P500.
Being the first American company on the benchmark index, the coinbase also has the first mover, which will mirror the launch of the spot bitcoin ETF. Therefore, expanding the rally for the price of coin stocks and possibly likely to improve other American-list companies this month.
Coin stock price analysis
The coin stock price eyes are upside down after overcoming strong resistance to the neckline of a head and shoulder pattern. If bulls can maintain speed and the procurement pressure shown by the growing RSI is maintained, the price may soon dissolve the level of $ 300.
In addition to the coinbase stock on S&P 500, there is a possibility of further reverse for this property, taking into account the news of fast. In addition, an influx of flow from institutions seeking indirect risk for crypto can attract the stock to $ 15 billion per current according to bitwaiz estimates and can register a large scale in the market cap.
Frequently asked questions (FAQs)
Coinbase will be added to the S&P 500 index on May 19, after the report Coinbase Stock has increased by 23%.
In addition to coinbase stock for S&P 500, coin stock price will be rapidly affected. This will increase the institutional flow for the product.
The coin can reach $ 300 after joining the S&P 500 index as the bitwaiz estimate reaches $ 15 billion.
Muthoni
Muthoni Mary is an experienced crypto market analyst and writer, who has an experience over three years, dissecting blockchain trends, price movements and market dynamics. With a sharp look for technical analysis and intense understanding of on-chain matrix, she provides practical, data-powered materials that help investors navigate the world with a fast book of digital assets.
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
share: