Coinbase Global Inc. will join the S&P 500 index, replacing Discover Financial Services, effective before the market opens on Monday, May 19. S&P Dow Jones Indices announced the change late Monday.
The move follows Capital One Financial’s acquisition of Discover Financial, a deal expected to close soon pending final conditions.
Coinbase Stock Surges After S&P 500 Inclusion
Coinbase becomes the first cryptocurrency-focused company to be included in the S&P 500. Following the announcement, Coinbase shares rose more than 7% in after-hours trading.
Despite the milestone, Coinbase’s latest earnings report showed mixed results. In Q1 2025, the company missed revenue expectations by $200 million.
However, platform engagement remains strong. USDC balances on Coinbase increased by 49% quarter-over-quarter, signaling resilience among its user base despite financial headwinds.
Coinbase’s addition to the S&P 500 marks a significant moment for the cryptocurrency industry’s growing integration into traditional finance.
Garantex, a Russian crypto exchange under US sanctions, accused Tether of attacking the Russian crypto market.
According to the exchange’s Telegram announcement, Tether has frozen several USDT wallets on the exchange, which are worth over $28 million.
USDT Holders in Russia are At Risk
Garantex stated that USDT stablecoins in user wallets are at risk. Several USDT funds held by users in the exchange have been frozen. To manage the situation, Garantex has temporarily halted all operations.
Co-founder Sergey Mendeleev stated that this action disrupts Russia’s international trade carried out with digital assets.
“We temporarily suspend the provision of all services, including cryptocurrency findings, for a while while we are solving this problem with the whole team. We fight and don’t give up!” Garantex wrote on Telegram.
Further, he warned that the freeze creates difficulties for businesses and financial institutions that depend on crypto to settle international payments.
“While we discussed easing tensions and relaxing sanctions, we were deceived once again. Suddenly, the paradigm shifted: earlier, sanctions were merely glossed over, but now they block without trial or investigation. This is exactly the reality I have warned about for at least two years, yet neither the Central Bank nor the professional community listened,” — wrote Mendeleev.
Mendeleev stressed that the disruption affects Russia’s economic engagements on a broader scale. Western sanctions have forced digital currencies to play a vital role in international settlements. The current incident further complicates those processes.
The exchange’s claim draws attention to mounting regulatory pressure and a growing conflict between US authorities and market players operating in Russian jurisdictions.
Garantex Sanction Explained
State Duma deputy Anton Gorelkin added his perspective on the incident. He pointed out that Tether’s decision reflects a broader trend of pressure applied by Western regulators on crypto infrastructure amid ongoing sanctions.
Gorelkin highlighted that centralized stablecoins like USDT remain particularly exposed to outside control. Despite the blockade, he expressed confidence that it is impossible to completely shut down the Russian crypto market.
Officials charged the exchange with failing to comply with anti-money laundering and counter-terrorism financing rules. US agencies claimed that Garantex played a role in laundering over $100 million linked to hacker groups and dark web transactions.
In March of last year, law enforcement agencies from the US and UK began an investigation into Garantex. They reviewed crypto transactions totaling more than $20 billion made using USDT.
This probe reflects the ongoing tensions between regulators and crypto operators in sanctioned environments.
The crypto market’s volatility continues, compounded by the absence of bullish signals from broader financial markets. While altcoins are becoming less dependent on external developments, they are increasingly relying on internal network progress to drive price movement.
BeInCrypto has analyzed three altcoins to watch, focusing on whether key events could trigger a price shift in the third week of April.
Filecoin (FIL)
FIL price has bounced off the support of $2.26, currently trading at $2.50. This rebound follows the altcoin’s 27% decline at the end of March, and traders are anticipating a recovery. The support level of $2.26 has proven crucial in halting further losses and enabling a potential uptrend.
Upcoming developments, such as the FIP 0097 proposal, could further boost FIL’s price. The transition to FEVM supporting transient storage and aligning with Ethereum’s EIP-1153 promises cleaner contracts, lower costs, and better compatibility. These improvements could drive FIL past the $2.63 resistance level, potentially reaching $2.99.
If FIL fails to break through the $2.63 barrier, the altcoin may fall back to $2.26. Losing this key support would invalidate the bullish outlook, risking a further drop to $2.00. Investors will closely monitor these levels for signs of a reversal or continued decline.
EigenLayer (EIGEN)
Another one of the key altcoins to watch before April ends, the EIGEN price is poised to breach the $0.86 resistance this week, driven by the upcoming Slashing upgrade. The upgrade will introduce a free marketplace where Operators can earn rewards for their work, and AVSs can launch verifiable services.
If EIGEN capitalizes on the momentum from the Slashing upgrade, it could surpass the $0.86 and $0.92 resistance levels. With continued upward movement, the altcoin could reach $1.00 and beyond. Investors are closely monitoring the effects of this update on price performance.
However, if EIGEN fails to breach $0.86, the price may fall back to the support level of $0.69. This would invalidate the bullish outlook and delay the recovery from the 41.5% losses incurred at the end of March.
OFFICIAL TRUMP (TRUMP)
TRUMP price recently hit an all-time low of $7.14 but has since recovered to $8.33. Despite this recovery, the likelihood of a continued rally is uncertain due to the upcoming token unlock on April 18. This event could create additional selling pressure on the altcoin in the coming days.
The first token unlock in three months, set to release 40 million TRUMP worth $331 million, will flood the market. This unlock will also initiate the daily release of 492,000 TRUMP tokens. Investors are concerned that this increased supply may further weigh on the price.
The surge in supply could prove bearish for TRUMP, which is already facing low demand. This may push the price back down to $7.14 or lower, potentially creating a new all-time low. However, if the price breaches $9.11, the bearish outlook would be invalidated, and recovery could occur.
Solana (SOL) is up 20% over the past seven days, supported by strong technical indicators and rising on-chain activity. Its Ichimoku Cloud and BBTrend charts both point to bullish momentum, with trend strength and volatility on the rise.
At the same time, Solana is reclaiming the top spot in DEX volume and dominating protocol fee rankings across major DeFi apps. With a recent golden cross on the EMA lines, SOL now looks set to test key resistance levels if momentum holds.
Solana Indicators Paint A Bullish Picture
Solana Ichimoku Cloud chart shows a clear bullish structure, with price trading above both the Tenkan-sen and Kijun-sen. This alignment indicates strong short- and medium-term momentum, with buyers maintaining control.
The Kumo ahead is green and steadily expanding, which supports the continuation of the current uptrend. The distance between the price and the cloud also gives the trend some room before any potential weakness sets in.
The Chikou Span is positioned above the cloud and candles, confirming bullish confirmation from past price action. As long as Solana stays above the Kijun-sen and the cloud remains supportive, the trend bias remains upward.
Solana’s BBTrend is currently at 16.89, showing a strong increase from 1.88 two days ago, though slightly down from 17.54 yesterday. This sharp rise indicates that volatility and trend strength have recently expanded significantly.
The BBTrend, or Bollinger Band Trend indicator, measures the strength of a trend based on how far price moves away from its average range. Readings above 10 generally signal a strong trend in motion, while lower values reflect a range-bound or weak market.
With SOL’s BBTrend holding near elevated levels, it suggests the asset is still in a strong trending phase. If it remains high or rises again, it could support further upward movement—but a steady decline might hint at a slowing trend or consolidation ahead.
SOL Volumes and Apps Are On The Rise
Solana is firmly reestablishing its dominance in the decentralized exchange (DEX) space, pulling ahead of Ethereum and BNB in daily volume.
Over the past 24 hours, Solana recorded $2.5 billion in DEX activity, marking a 14% increase over the last seven days. That growth outpaces Base’s 10% and contrasts sharply with the declines seen on Ethereum (-3%) and BNB (-9%).
Beyond trading volume, Solana is also leading in protocol revenue generation. Among the top eight non-stablecoin protocols ranked by fees, five are directly built on Solana: Pump, Axiom, Jupiter, Jito, and Meteora.
Pump stands out in particular, generating $2.73 million in fees in just the past 24 hours and $15 million across the past week.
Can Solana Break Above $150 In The Next Weeks?
Solana’s EMA lines recently formed a golden cross, a bullish signal that often marks the start of a new uptrend.
This crossover suggests momentum is shifting in favor of buyers, with the potential for Solana price to soon test key resistance levels.
If the current trend holds, Solana could challenge resistance around the $136 zone. A breakout there may open the path toward higher levels such as $147, $160, and even $180 if bullish pressure intensifies.
However, if momentum fades, Solana may face a pullback toward the $124 support zone. A break below that could trigger deeper downside moves, potentially revisiting $112 or even $95 if selling pressure accelerates.
