What to know:
- Bernstein sees potential bottom for Coinbase, Robinhood, and Figure, with 57-62% drop from 2025 highs.
- Coinbase’s revenue shifts to derivatives (14% of trading income) and stablecoin fees (19% of total revenue).
- Tokenization and prediction markets drive growth for Figure and Robinhood amidst regulatory uncertainty.
Bernstein, a leading research and brokerage firm, sees a potential bottom for crypto-linked equities like Coinbase, Robinhood, and figure after a steep selloff. The stocks have dropped 57% to 62% from their 2025 highs, yet analysts project revenue and earnings growth through 2027. Thing is, derivatives and stablecoins are set to drive that rise.
Coinbase’s Evolving Revenue Streams
Bernstein says derivatives could reach 14% of Coinbase’s trading income by 2027. Stablecoin fees – In particular from Circle’s USDC – might cover 19% of total revenue next year. More users are picking up stablecoins and tokenized tools. The business model is evolving quickly. That shift reflects real user behavior and growing demand for digital financial products.
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Tokenization and Prediction Markets
Figure is set for good things with its tokenization platform. According to analysts consumer-loan marketplace volumes could be as high as $12.8 billion in 2023 and $16.5 billion in 2027. On the other hand, Robinhood’s forecast hinges on fresh revenue sources, which among them are prediction markets that are expected to make up about 10% of total revenue in the coming year.
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Regulatory Clarity and Market Sentiment
Coinbase, Robinhood, and Figure Technologies remain solid picks for long-term holders due to improved risk-return ratios. The crypto space still faces headwinds from regulatory swings and market swings. Bernstein sees value in these names even amid recent price drops. Volatility hasn’t faded.
Crypto shares, which took a hit because of the sell-off last week, are now finding a balance as the use of stablecoins, derivatives, and tokenization is on the rise.
Regulatory clarity remains a must for growth that lasts, but Bernstein’s bullish stance on the market points to investors being able to spot the investment opportunities in this crypto transformation.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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