Coinbase enters S&P 500 - CPI hits lowest level in 4 years... Cryptocurrencies rise

The news that Coinbase, the largest cryptocurrency exchange in the United States, has been added to the S&P 500, the flagship index of the U.S. stock market, and last month's Consumer Price Index (CPI)
Major virtual currencies are rallying together on the news that the price of Bitcoin hit a four-year low.
Bitcoin rose 1.79% from 24 hours ago to $104,308 (approximately JPY 15.4 million). Ethereum, the second largest cryptocurrency by market capitalization, surged 8.44% to $2,684 (approximately JPY 390,000).
) was traded. Ethereum surged to $2,738 a few hours ago and also broke through the $2,700 line. Ripple, the third largest by market capitalization, rose 1.23% to $2.57.
On Monday, Ripple traded between a high of $2.60 and a low of $2.43. With the day’s rise, Ripple overtook Tether to move from fourth to third place in market capitalization.
This is primarily due to favorable news from Coinbase. Earlier in the U.S. stock market, Coinbase closed at $256.90, up 23.97%.
Experts agree that this represents the cryptocurrency industry's entry into the mainstream industry in the United States.
It is the first and only cryptocurrency exchange to be listed in the S&P 500. Gautam Chagney, managing director at securities firm Bernstein, said:
"Until just a few months ago, Coinbase was in the midst of a fierce lawsuit with the U.S. Securities and Exchange Commission (SEC)," he said. "Such a company is not representing U.S. securities.
"It's a big change that cryptocurrency has been included in the S&P 500 index," he said. "This symbolizes a dramatic change in the fortunes of the cryptocurrency industry and its rapid emergence as the forefront of financial innovation.
" Coinbase will be officially included in the S&P 500 from the 19th. Meanwhile, Coinbase successfully listed on the Nasdaq on April 14, 2021.
For the first time in about four years, it was included in the S&P 500, the flagship index of the U.S. stock market.