2025-05-14
On May 13, 2025, Coinbase Global Inc.
(NASDAQ: COIN) experienced a significant stock surge, closing at $256.90—up
23.97% or $49.68 from the previous day. Bringing Coinbase’s market cap from $52.78
billion on May 9 to $65.43 billion on May 13.
This rally was driven by the
announcement that Coinbase will be added to the S&P 500 index on May 19,
replacing Discover Financial Services, which is being acquired by Capital One.
This inclusion marks a milestone for
the cryptocurrency industry, as Coinbase becomes the first crypto-native
company to join the S&P 500.
The inclusion is expected to attract
institutional investors and index-tracking funds, potentially increasing demand
for Coinbase shares.
Concurrently, Bitcoin's price surpassed
$103,000, nearing its all-time high of $106,000.
