CME Group Eyes 'CME Coin' After JPMorgan Success-Chart Shows Breakout To $320

CME Group (NASDAQ:CME) CEO Terry Duffy revealed the derivatives giant is exploring launching its own crypto that could operate on a decentralized network, as CME stock broke out from an inverse head and shoulders pattern targeting $320.

The ‘CME Coin’ Announcement

Duffy on Wednesday confirmed during the company’s latest earnings call that CME is exploring “initiatives with our own coin that we could potentially put on a decentralized network,” Coindesk reported. 

The comment came in response to Morgan Stanley (NYSE:MS) analyst Michael Cyprys asking about tokenized collateral.

Duffy distinguished between collateral sources. “If you were to give me a token from a systemically important financial institution, I would probably be more comfortable than maybe a third or fourth-tier bank trying to issue a token for margin,” he said. 

“Not only are we looking at tokenized cash, we’re looking at different initiatives with our own coin,” he added.

The company is already working on a “tokenized cash” solution with Google (NASDAQ:GOOGL) set to launch later this year, involving a depository bank facilitating transactions. 

The “own coin” Duffy referenced appears separate—a token CME could put on a decentralized network for industry participants to use.

Moreover, CME declined to clarify whether this coin would function as a stablecoin, settlement token, or something else entirely. 

However, the implications are significant as this marks the first time CME has explicitly floated a proprietary, CME-issued asset running on a decentralized network.

Following JPMorgan’s Playbook

CME wouldn’t be the first traditional finance giant to launch its own token. 

JPMorgan (NYSE:JPM) recently rolled out tokenized deposits on Coinbase’s (NASDAQ:COIN) Base blockchain via JPM Coin (JPMD), rewiring how Wall Street moves money.

The timing aligns with CME’s crypto expansion. The firm launches 24/7 trading for all crypto futures in Q2 and will soon offer Cardano (CRYPTO: ADA), Chainlink (CRYPTO: LINK), and Stellar (CRYPTO: XLM) futures contracts.

CME’s crypto volume hit records with average daily crypto trading volume reaching $12 billion last year. Micro-ether and micro-bitcoin futures contracts were top performers.

CME Stock Technical Breakout

CME is up 1%, breaking out from a major inverse head and shoulders pattern. 

The neckline sits around $290, and CME successfully broke above it—a strongly bullish technical signal.

The pattern projects $320 as the measured move target based on the pattern’s height (approximately $35 from head to neckline added to the breakout point).

Additionally, all EMAs sit in perfect bullish alignment: 20 EMA at $283.09, 50 EMA at $277.40, 100 EMA at $273.71, and 200 EMA at $266.62 stacked below price in ascending order. 

This confirms the uptrend is well-established.

The RSI at 72.99 shows strong bullish momentum in overbought territory above 70. 

While running hot short-term, strong uptrends can maintain overbought readings for extended periods.

Immediate support sits at $290 (former resistance turned support), followed by the 20 EMA at $283. 

As long as CME holds above $290, the bullish structure remains intact with a clear path toward $320.

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