Coinbase's Entry into the S&P 500 Is Turning Heads as It Is Set to Become the First Crypto Firm to Be Included in the Iconic Index

The news of Coinbase's entry into the S&P 500, scheduled for May 19th, is turning heads as it is set to become the first crypto firm to be included in the iconic index

Coinbase (NASDAQ:COIN) is set to become the first crypto firm to join the S&P 500 on May 19th, marking a significant milestone for the sector as it continues to gain institutional interest and mainstream acceptance.

As this development paves the way for increased passive funds and ETFs to hold crypto firms, several cryptocurrencies could be in line for big price boosts.

Coinbase’s entry into the S&P 500 follows a turbulent period that saw the crypto exchange face legal challenges from the SEC, which described it as an unregistered broker and exchange, impacting Coinbase’s stock and broader sentiment.

However, the election of President Trump’s pro-crypto administration in November saw a dramatic shift, with Coinbase’s shares surging 31% immediately after the news broke.

After the election and changes in the SEC’s leadership, the SEC dropped its case against Coinbase in late February, setting the stage for a second-largest surge in a US stock since Election Day 2024.

Coinbase shares rose nearly 24% after the announcement of its S&P 500 inclusion, which also saw Best Wallet Token (BEST) gain over 16% within 24 hours.

This follows a massive boom in the crypto sector, which saw it reach a market cap of $3.37 trillion on May 14th, setting the stage for a new market-wide rally led by high-potential tokens.

Best Wallet Token (BEST)

With bullish sentiment surrounding the crypto sector, an influx of retail investors is likely, and Best Wallet seems well-positioned for that.

Boasting over 250,000 monthly users, Best Wallet is one of the fastest-growing Web3 non-custodial wallets, and it is now launching its native token, Best Wallet Token.

From facilitating lower transaction costs while using its existing and upcoming features to unlocking higher staking rewards via its upcoming staking aggregator, BEST is an asset that’s designed to be held, and investors can currently purchase it at a discount.

Presale expert ClayBro, impressed by Best Wallet Token’s early adoption rates, believes BEST will make an explosive debut this year, advising his audience to start accumulating the token while the presale is still live.

The expert highlighted its upcoming crypto debit card, which will charge no-to-low transaction fees for BEST holders, as an exciting upcoming addition to the ecosystem.

Plus, he pointed out that those holding Best Wallet Token will enjoy exclusive “Stage 0” access to emerging presales, which could result in explosive gains, making BEST an attractive purchase at its current per-token price of $0.025025.

Bittensor (TAO)

As the popularity of AI pushes the AI crypto sector upward, Bittensor stands out as a platform that encourages a decentralized approach to the technology.

Aiming to shift the narrative on AI development, which has been largely dominated by large tech companies, Bittensor allows users to train and monetize AI models built via an open, global network.

The TAO token is central to its ecosystem, as it can be earned by users providing valuable AI outputs or contributing computational resources. Plus, it enables staking and allows holders to participate in governance.

The recent market-wide rally saw Bittensor’s price skyrocket from $245.88 in mid-April to $457.19 on May 14th, a 30-day return of 86.17%. Technical analyst Atomz expects it to continue growing over the next few weeks.

The analyst highlighted that TAO managed to break through and consolidate above the resistance it faced at the $432 level, expecting it to retest its support before the next leg up. The slight correction wouldn’t take TAO below its 50-day Simple Moving Average (SMA) of $307.77, which often indicates that a token has strong upward potential in the short term.

Atomz placed a target above the $560 mark for the token, which he is confident TAO will reach this summer.

Quant (QNT)

Quant (qnt)

QNT is the utility token of Quant, which provides the infrastructure needed for a diverse network of blockchains to communicate and exchange data. Powering Quant’s integrated marketplace, QNT is required for accessing its services, including transactions, applications, or licensing the marketplace provides.

As the crypto market enjoys increasing popularity following the recent bullish developments, Quant’s goal of enabling interoperability has positioned QNT for massive gains, with the token achieving a 7.66% growth over the past seven days.

Fueled by a recent Robinhood listing that allows European customers to trade QNT on its platform, QNT’s technical indicators also suggest the token is prepared for additional gains throughout 202