FIGR Coin News
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Bernstein says the 60% crash in crypto stocks is a rare chance to buy the dip at a 'big' discount
Bernstein views the 60% drawdown in crypto equities as a significant buying opportunity, suggesting current valuations offer substantial discounts on fundamentally strong companies. Despite near-term weakness expected through Q1 earnings, the report indicates a potential market bottom, presenting an entry point for investors focused on long-term growth in stablecoins, tokenization, and derivatives. Revised price targets for COIN, HOOD, and FIGR reflect Bernstein's cautious optimism, acknowledging current macro and sentiment headwinds while maintaining 'outperform' ratings.
Bernstein sees potential bottom for crypto stocks ahead of Q1 earnings
Bernstein's maintained 'Outperform' ratings on COIN, HOOD, and FIGR, despite price target cuts, signals a belief in the long-term growth potential of onchain finance and tokenization themes, even as near-term Q1 earnings may be weak. The significant price reset in crypto-linked equities (57%-62% from peaks) is viewed by Bernstein as creating an attractive entry point for investors seeking exposure to the evolving landscape of tokenized financial infrastructure, including stablecoins and prediction markets. Bernstein's analysis highlights a strategic shift for Coinbase away from spot trading towards derivatives and stablecoin income, projecting these segments to become significant revenue drivers, underscoring the diversification of crypto businesses beyond simple trading. The report suggests that despite regulatory uncertainties, stablecoins like USDC are expected to remain durable revenue generators for platforms like Coinbase, as the underlying reserve yield economics are robust, indicating resilience in this segment of the crypto market.
