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Bernstein: Crypto Bull Market Cycle Still in Early Stage
Summary: According to The Block, Bernstein has stated that the current crypto bull market cycle is still in its early stages, with platforms like Robinhood and Coinbase poised to profit from increased trading volume and mainstream market adoption. Bernstein reiterated its outperform ratings for both companies and remains confident in their performance. Robinhood reported strong second-quarter ...
According to The Block, Bernstein has stated that the current crypto bull market cycle is still in its early stages, with platforms like Robinhood and Coinbase poised to profit from increased trading volume and mainstream market adoption. Bernstein reiterated its outperform ratings for both companies and remains confident in their performance. Robinhood reported strong second-quarter earnings on Wednesday and continues to expand its cryptocurrency products. In July, trading volume surged to a six-month high, driven by market volatility recovery and increasing investor interest in ETH, SOL, and DeFi tokens due to factors like Circle's listing. It is expected that cryptocurrency trading volume will significantly increase in the second half of the year. Additionally, the report mentioned Coinbase's strategic partnership with JPMorgan Chase, which greatly promotes the mainstream adoption of digital assets. Bernstein believes that the current crypto bull market is still early, recent developments supporting this view, and no action is needed at this time.
