According to @moonshot, Coinbase (COIN) stock has become the top performer in the S&P 500 since its recent inclusion, surging 43% in June to its highest level since its public debut. This rally is primarily fueled by a shift in investor focus towards stablecoin revenue, driven by legislative progress on the GENIUS Act, a potential rulebook for dollar-pegged stablecoins. The report highlights that Coinbase earns significant yield from USDC balances, giving shareholders indirect exposure. This stablecoin mania has also propelled Circle (CRCL), the issuer of USDC, with its stock rising approximately 500% since its June 5 debut to a valuation of $77 billion. Further bullish signals include Mastercard's new partnerships with Moonpay, Chainlink (LINK), and Kraken, and a 44% year-to-date surge in Euro-backed stablecoins. The Federal Reserve also contributed to positive sentiment by stating that crypto no longer carries 'reputational risks' for banks.

According to @moonshot, Coinbase (COIN) stock has become the top performer in the S&P 500, surging 43% in June to reach its highest level in four years. This rally is driven by a shift in investor focus towards stablecoin revenue, particularly from USD Coin (USDC), catalyzed by Washington's progress on the GENIUS Act for stablecoin regulation. Analysts noted that Coinbase benefits significantly by keeping all yield on USDC balances held on its platform and nearly half of other USDC income. The broader market sentiment for stablecoins is exceptionally bullish, with Circle (CRCL), the issuer of USDC, seeing its stock rise approximately 500% since its June debut. Further validating the trend, traditional payment giants like Mastercard have announced new partnerships with crypto firms including Chainlink (LINK) and Kraken. Current data shows LINK trading at $13.37, reflecting a 1.52% increase in 24 hours.