Coinbase 50 Index (COIN50) Adds Axie Infinity (AXS), Blur (BLUR), Jasmy (JASMY), Kusama (KSM), and MultiversX (EGLD)

Coinbase Institutional announced it is adding five new cryptocurrencies to the Coinbase 50 Index (COIN50), suggesting these are promising investments.

Cryptocurrency exchange Coinbase announced the addition of five new cryptocurrencies to the Coinbase 50 Index (COIN50) on December 2.

The index, which launched for trading on Coinbase on November 12, is already outperforming the cryptocurrency market.

According to Finbold’s analysis, COIN50 perpetual contracts outperformed TradingView’s Crypto Total Market Cap Index (TOTAL) and Bitcoin (BTC) price since its launch.

At press time, the Coinbase 50 Index trades at around $475, up over 23% since November 12.

In comparison, TOTAL surged by 18.33%, with a $3.38 trillion capitalization, and Bitcoin is up 9.43% while trading below $95,000.

Therefore, COIN50 outperformed each by approximately 5% and 14%, respectively.

The Coinbase 50 Index is weighted by the circulating market cap of each cryptocurrency and currently includes 50 assets.

The top three assets — BTC, Ethereum (ETH) and Solana (SOL) — account for 85% of the total allocations.

Specifically, BTC, ETH and SOL have 50%, 28.8% and 6.4% of the COIN50 weight, respectively.

Afterward, XRP and Dogecoin (DOGE) sum up to the top five with 2.9% and 1.4% each.

The 45 other assets account for 10.4% of the index, which now includes AXS, BLUR, JASMY, KSM and EGLD.

Among the new additions, JASMY, EGLD, AXS, BLUR and KSM rank in the 35th, 37th, 38th, 46th and 48th positions of COIN50, respectively, with index weights ranging from 0.08% to 0.03%, as per the Coinbase 50 Index fact sheet.

In comparison, they are ranking in the 64th (JASMY), 92th (EGLD), 84th (AXS), 126th (BLUR) and 135th (KSM) positions from CoinMarketCap.

Hence, surging to meet Coinbase Institutional’s rank expectations would mean a significant price increase for each of these digital assets.

While prices and, subsequently, the market cap of cryptocurrencies can rapidly change, especially given the high volatility, using the index ranks provides a solid benchmark for investors to identify over or undervalued assets to purchase and build their own portfolios.