Coinbase Adds Five Cryptocurrencies to COIN50 Index

Coinbase Institutional has recently added five new cryptocurrencies to its Coinbase 50 Index (COIN50), a move highlighting the potential of these assets as solid investment opportunities.

The index, which follows a detailed methodology for diversification, evaluates cryptocurrencies based on rigorous fundamental criteria.

On December 2, Coinbase revealed that Axie Infinity (AXS), Blur (BLUR), Jasmy (JASMY), Kusama (KSM), and MultiversX (EGLD) are now included in the COIN50. This announcement follows a similar update from Coinbase on November 13, when it expanded cryptocurrency listings for New York residents. Notably, MultiversX was featured in both the listing and the index reshuffling, signaling strong potential as the market grows.

Since its launch on November 12, 2024, the Coinbase 50 Index has outperformed the broader cryptocurrency market. Trading at approximately $475, COIN50 has surged over 23%, surpassing the 18.33% increase of the Total Market Cap Index (TOTAL) and Bitcoin’s 9.43% rise. These results indicate the index’s strength, with its perpetual contracts showing a 5%-14% advantage over other major assets.

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The Coinbase 50 Index, which undergoes quarterly rebalances, is weighted by the market capitalization of each asset. The top three—Bitcoin (BTC), Ethereum (ETH), and Solana (SOL)—dominate the index, comprising 85% of its total value. The five newly added cryptocurrencies, AXS, BLUR, JASMY, KSM, and EGLD, have smaller weights but may see growth as the index matures.

Interestingly, the newly added assets rank lower in terms of market cap on platforms like CoinMarketCap, suggesting that if they rise to match their positions in COIN50, significant price increases could follow. Although cryptocurrency prices are volatile, observing the ranking of assets in an established index like COIN50 offers investors a useful tool to identify potentially undervalued assets for their portfolios.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.