Coinbase's stock price soared 43% and continued to pump after being selected for the S&P 500 index.

On June 28, Coinbase was the best performer in the S&P 500 index for June, driven by positive regulatory updates, product launches, and its inclusion in the benchmark index at the end of May. Coinbase is currently on track to achieve its best monthly performance since November last year, rising for the third consecutive month (up 43% just in June), and it has achieved three consecutive months of gains for the first time since the end of 2023. This Thursday, the stock reached its highest level since the 2021 IPO.

Oppenheimer analyst Owen Lau stated that the inclusion of the S&P 500 index, the passage of the GENIUS Act by the Senate, and Circle's strong performance have negated the false narratives against Coinbase, leading to a collective realization. The two major factors that previously constrained Coinbase's development—the issue of fee compression (which has not actually occurred; on the contrary, Coinbase has continued to be profitable and thus made it to the S&P 500 index) and regulatory uncertainty—are dissipating, although most believe that Congress will find it difficult to reach a consensus, the passage of the GENIUS Act has become a fact.

Even though Coinbase's stock price has surged 44% this month, Devin Ryan, head of fintech research at Citigroup, still believes there is further pump potential for its stock. He pointed out that the market has not yet fully recognized the close partnership between Coinbase and Circle Internet Group—Circle's stock price has skyrocketed over 500% since its IPO on June 5 on the NYSE.

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BlockTalkvip
· 06-30 00:56
The bull run is how it has been turning green all the way.
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GateUser-1a2ed0b9vip
· 06-28 22:29
Short Position dog can cry now
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TestnetNomadvip
· 06-28 02:30
Everything is虚的, crazier than gambling.
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MetaRecktvip
· 06-28 02:30
Damn! We must blow it up tonight!
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TaxEvadervip
· 06-28 02:26
I have long said that cb is the best in the world.
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gas_fee_traumavip
· 06-28 02:19
Reverse go long才是正道啊!
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LayerZeroHerovip
· 06-28 02:06
The bull run has arrived, all that's left is for you to lay flat.
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