Newly added S&P 500 crypto stock hits record high after breakout move

Coinbase (COIN) surged to a new all-time high of $394.01 on Tuesday, rising 15.21% and pushing its market capitalization past the $100 billion mark.

The rally marks a full recovery from its previous peak of $342 set on Nov. 13, 2021. Fueling the breakout are renewed inflows into crypto assets, Bitcoin's climb beyond $123,000, and increased institutional engagement in the digital asset space.

This is a developing story. Please check back for updates.

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