Crypto US stocks are back in focus as Coinbase (COIN), Riot Platforms (RIOT), and MicroStrategy (MSTR) each post major developments. COIN surged nearly 24% after news of its inclusion in the S&P 500, marking a historic first for a crypto-native firm.

RIOT gained over 4% following its strategic decision to sell April’s BTC production and pivot away from hosting operations. Meanwhile, MSTR continues its aggressive Bitcoin accumulation, adding over $1.3 billion in BTC this week alone as it rides a 40.5% rally over the past month.

Coinbase (COIN)

Coinbase (COIN) closed yesterday up nearly 24%, fueled by the announcement that it will replace Discover Financial Services in the S&P 500 index on May 19.

The move, prompted by Capital One’s acquisition of Discover, makes Coinbase the first crypto-focused firm to enter the prestigious benchmark. Investor sentiment soared following the news, with COIN also gaining over 7% in after-hours trading on the day of the announcement.

Despite a $200 million revenue miss in Q1, the company’s inclusion in the S&P 500 is seen as a milestone for crypto’s growing role in traditional finance and has reinvigorated interest in the stock.

The spike comes just days after Coinbase reported underwhelming Q1 earnings, with a sharp miss on both revenue and EPS expectations—posting only $0.24 per share versus the expected $2.09. Still, user activity has remained strong, with a 49% quarter-over-quarter jump in USDC balances, and the company continues expanding through moves like the $2.9 billion Deribit acquisition.

As of pre-market today, COIN is up another 0.79%, trading at $256.9—its first time above $250 since February 20. According to TradingView, analyst sentiment is mixed: 12 analysts rate it a strong buy, 18 recommend holding, and just 1 marks it as a strong sell.

If bullish momentum continues, COIN could test resistance at $265.2 and potentially break above $302—levels not seen since January 30. If the rally fades, however, it could retrace to test the $211.58 support.

Riot Platforms (RIOT)

Riot Platforms (RIOT) closed yesterday up 4.14% but is down 0.22% in the pre-market. The move follows a company update revealing that Riot sold all of its April Bitcoin production—463 BTC—to fund ongoing operations and support growth.

This marks a strategic shift for the firm, which typically holds its mined Bitcoin and has even made additional purchases in recent months.

CEO Jason Les also confirmed that Riot is ending its mining hosting operations to focus entirely on its core mining business, acknowledging recent network difficulty adjustments as a challenge to April’s output.

Despite the temporary shift in strategy, market sentiment around RIOT remains overwhelmingly bullish. According to TradingView, 15 out of 17 analysts rate the stock a strong buy, with an average one-year price target of $15.54—implying a 71.5% upside from current levels.

Technically, RIOT’s EMA lines recently formed a golden cross, signaling potential for continued upward momentum. If the rally holds, key resistance levels to watch are $9.98, followed by $10.67 and $12.48.

However, if the uptrend weakens, the stock could pull back toward support at $8.82.

Strategy Incorporated (MSTR)

MicroStrategy (MSTR) closed yesterday up 4.13% and is down 0.72% in the pre-market, but the stock has surged 40.5% over the last 30 days, fueled by renewed confidence in Bitcoin and the company’s aggressive accumulation strategy.

This week, MicroStrategy—now rebranded as Strategy—announced a major purchase of 13,390 BTC for $1.34 billion, bringing its total holdings to 568,840 BTC valued at over $50 billion.

The purchase was made at an average price of ~$99,856 per coin and marks one of the firm’s largest acquisitions in 2025.

Despite criticism over its rising debt load and weak core business, CEO Michael Saylor doubled down on Bitcoin, highlighting a 15.5% YTD yield on BTC holdings.

Market sentiment remains largely bullish. According to TradingView, 12 out of 16 analysts rated MSTR a strong buy over the last three months, with a one-year average upside forecast of 24.83%.

Technically, if the uptrend continues, MSTR could test resistance at $437. However, if bearish momentum takes over and the $404 support is breached, the next key level to watch is $383.

With Bitcoin recently reclaiming $105,000 after positive macro developments, MicroStrategy is riding a wave of market optimism—for now.