Coinbase is getting pulled into the core of traditional finance. On Monday, the company was picked to join the S&P 500, replacing Discover Financial Services in the index. And its mission is to take over Wall Street.

The crypto exchange's broadening product suite and dominant U.S. market position set it up well for the long term, many analysts said.

JPMorgan lowered its price target on Coinbase to $215 from $276 and kept a ‘Neutral’ rating on the shares, as per TheFly.