Bernstein trims Coinbase target, lifts Circle outlook as prediction markets gain ground
Bernstein lowered its price target on Coinbase to $250 while raising Circle's target to $145, predicting that tokenization, derivatives, and prediction markets will displace traditional spot trading as primary crypto revenue drivers.
Bernstein has recalibrated its valuation targets across prominent crypto-linked equities, reducing its price target for Coinbase to $250 from $330 while boosting its target for Circle to $145 from $140. According to reports by The Block and crypto.news, the brokerage anticipates that tokenization and prediction markets will spearhead expansion for crypto stocks as traditional spot trading volume cools.[1][2][3][4]
The revisions reflect an evolving revenue mix in the digital asset sector, where derivatives, prediction markets, and tokenization are taking precedence over conventional trading products. As part of this forecast, Bernstein expects Robinhood to experience substantial shifts in its business model, projecting that the platform's prediction-market revenue will surpass its crypto revenue by 2028.[1][2][3][4]
Bernstein's raised outlook for Circle was fueled by Arc token presales alongside its reserve yield outlook, according to CoinMarketCap. The firm expects Circle to deliver third-quarter revenue of $770 million, even after the circulating supply of USDC declined from roughly $77 billion to approximately $73 billion.[5]
Key facts
- Bernstein cut its Coinbase price target from $330 to $250.
- Bernstein increased its Circle price target from $140 to $145.
- The research firm forecasts prediction markets and tokenization will drive crypto stock growth as spot trading softens.
- Bernstein projects Robinhood's prediction-market revenue will overtake its crypto revenue by 2028.
- Bernstein cited Arc token presales and reserve yield outlook as reasons for lifting Circle's target.
- Circle is projected to generate $770 million in Q3 revenue, despite USDC supply falling to about $73 billion from $77 billion.
Sources · 5 sources
- TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Bernstein is forecasting that prediction markets and tokenization will drive growth for crypto stocks as spot trading softens. The firm cut Coinbase’s price target to $250 from $330, but raised Circle's to $145 from $140 and sees Robinhood’s prediction-market revenue overtaking its crypto revenue by 2028. $COIN $CRCL $HOOD
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: Bernstein sees prediction markets and tokenization driving crypto stocks as spot trading cools The firm cut Coinbase’s price target to $250 from $330, raised Circle’s to $145 from $140, and projects Robinhood’s prediction-market revenue will surpass its crypto revenue by 2028.
Open source - TB
The BlockArticle ·
Prediction markets and derivatives drive Bernstein’s crypto stock outlook for Coinbase, Robinhood and Circle Bernstein cuts Coinbase’s target while raising Circle’s as new products shift their earnings outlook.
Open source - CB
Crypto BriefingArticle ·
Bernstein cuts Coinbase target, raises Circle outlook as crypto revenue mix shifts The shift in crypto revenue sources highlights the growing importance of derivatives, prediction markets, and tokenization over traditional trading. The post Bernstein cuts Coinbase target, raises Circle outlook as crypto revenue mix shifts appeared first on Crypto Briefing .
Open source - CO
CoinMarketCap@CoinMarketCapPost on X ·
LATEST: 📊 Bernstein raised its Circle price target to $145 from $140 on Arc token presales and reserve yield outlook, expecting Q3 revenue of $770M even as USDC supply fell to about $73B from $77B. https://t.co/kkeHeixKAv
Open source