Crypto US stocks are drawing attention today, with Coinbase (COIN), Galaxy Digital (GLXY), and Core Scientific (CORZ) showing distinct catalysts and price movements.
Coinbase is preparing for its S&P 500 debut while managing the fallout from a recent data breach. Galaxy started trading on NASDAQ today after a four-year regulatory battle with the SEC. Meanwhile, Core Scientific stands out as the top performer in the group, gaining 53% in the past month and maintaining strong analyst support.
Coinbase (COIN)
SponsoredCoinbase (COIN) has experienced notable price action following its landmark inclusion in the S&P 500, set to take effect on May 19. The crypto exchange will replace Discover Financial Services due to Capital One’s acquisition of the latter, making Coinbase the first crypto-native company to join the index.
This historic listing triggered bullish momentum, though recent price movements have been volatile.
After climbing in anticipation of the listing, COIN dropped 7.20% yesterday following news of a cybersecurity breach but rebounded 2.6% in pre-market trading.
The breach, which affected under 1% of users, stemmed from rogue overseas contractors leaking personal data—including names and partially masked Social Security numbers.
Despite the attackers demanding a $20 million ransom, Coinbase refused and instead offered the same amount as a bounty for leads on the perpetrators. Technically, COIN continues to face resistance near $265, with bullish EMA lines still in place.
SponsoredHowever, if the correction deepens, key support levels at $223.6, $211.58, and $193 could come into play. With the S&P 500 inclusion drawing near, a renewed uptrend could emerge, potentially pushing COIN back toward retesting the $264 zone.
However, rising competition from spot Bitcoin ETFs is putting pressure on Strategy’s long-standing premium. Short seller Jim Chanos recently initiated a long-Bitcoin/short-MSTR trade, calling Strategy’s valuation “irrational” and fueled by retail hype.
Analysts argue that the availability of low-fee, direct BTC exposure through ETFs like BlackRock’s IBIT challenges the need for corporate wrappers like MSTR.
With a 32.79% one-year upside forecast and a price target of $527, investor sentiment remains cautiously optimistic, but if Bitcoin faces a sharp correction, Strategy’s debt-heavy model could quickly become a liability.
Galaxy Digital (GLXY)
SponsoredGalaxy Digital, a crypto firm founded by Mike Novogratz, started trading on the Nasdaq under the ticker GLXY at $23.50 per share.
GLXY is now focused on two high-growth areas: crypto and AI. Novogratz believes this will drive the company’s value in the future.
The listing comes after a four-year regulatory battle with the US Securities and Exchange Commission, which Novogratz described as a “grueling” and costly process.
Core Scientific (CORZ)
SponsoredCore Scientific (CORZ) was the only major crypto US stocks to close in the green yesterday, gaining 1.84% and adding another 1% in the pre-market.
The stock has been one of the top performers in recent weeks, rising 53% over the past month and 11% in just the last five days. This strong momentum is backed by bullish sentiment from analysts—16 experts surveyed by TradingView project an average 12-month upside of nearly 74%, with a price target of $18.28.
Of 17 analysts, 15 rate CORZ as a “Strong Buy,” further reinforcing investor confidence.
Technically, CORZ appears poised for further gains, with its EMA lines suggesting the formation of a potential golden cross. If the current momentum continues, the stock could test resistance levels around $13 in the near term.
However, should the uptrend stall, key support levels to watch lie at $10.34 and $9.45. As bullish sentiment and analyst confidence converge, CORZ is emerging as a standout among crypto-related equities.
Midnight