The bank said ETH-focused DATCOs have outperformed since Nov. 20 as risk appetite improved, mNAVs ticked up and staking-led strategies gained traction.
Digital-asset treasury plays that once traded at big premiums have fallen back toward net asset value.
Lower adjusted net asset value multiple means Strategy can no longer issue equity at a premium, threatening its long-term plan to accumulate more bitcoin, analyst Brett Knoblauch wrote.
Bernstein kept its Street-high $510 price target on Coinbase, citing strong fundamentals and product expansion.
The upgrade marks a sharper strategic turn for the blockchain, aligning protocol development with economic intent and strengthening the case for ether.
Bitcoin briefly revisted $93,000 after ETF inflows but analysts warn that onchain metrics signal uncertainty around price action.
The investment bank slashed price targets across so-called Datcos, citing sector-wide pressure and weaker accumulation trends.
The bank said billions in passive flows could unwind if MSCI removes Strategy from major equity benchmarks, heightening pressure on the bitcoin-levered firm.
The bank said USDC remains the frontrunner to dominate digital dollars as the company's third-quarter results topped forecasts.
The bitcoin miner turned AI infrastructure play has more than 50% upside, said the bank.
Citizens says blockchain deals are accelerating as firms buy rather than build to keep pace with regulatory clarity and customer demand.
The Wall Street broker said SharpLink is a compliant, institutional gateway to Ethereum, and gave the stock a $24 price target, offering 75% potential upside.
Western Union’s new Solana-based stablecoin and crypto cash-out network mark a smart step into blockchain-enabled remittances, the report said.
The bank noted that bitcoin and ether are once again moving in step with U.S. equities and gold.
Gemini’s trading growth is slowing despite strong card sign-ups and app downloads, said Citigroup, while Bullish momentum is accelerating.
The bank also reaffirmed TeraWulf (WULF) as its top pick in the sector.
Cantor, Canaccord and Benchmark all raised their Galaxy price objectives.
The Wall Street bank initiated coverage of Strategy with a buy/high risk rating and a $485 price target.
The company's move to bring data center development in-house strengthens its AI and mining strategy, and accelerates monetization, said analyst Mark Palme
Stablecoins are growing alongside crypto, lifting Ethereum while new networks loom and the dollar stays dominant.
Limited bitcoin outflows and heavier ether selling pointed to crypto-native liquidations as the driver of the drop.
The bank sees growing adoption, tighter supply and rising institutional inflows driving a sharp ether rally within two years.
The total market cap of the 14 U.S.-listed bitcoin miners that the bank covers rose 41% from the end of last month to a record $79 billion.
Regulation and new players are driving stablecoin momentum and paving the way for a new internet “money layer,” the broker said
Supply has surged 72% year-over-year, led by Ethereum, Solana, and Plasma’s record debut, as stablecoins begin to mirror core banking functions
The broker sees CMPO shares gaining from operational momentum and Arculus’s new trading features, with M&A potential still offering upside.
Circle and Coinbase are poised to benefit most, as stablecoins reshape global payments and challenge the dominance of traditional correspondent banks.
With rising liquidity, regulatory clarity and institutional use, stablecoins are moving beyond crypto trading to challenge traditional payment networks, DWS said.
The broker said lower interest rates could squeeze Circle’s revenue, but rising USDC adoption and operating leverage should keep profits on track.
The bank said U.S./China trade tensions triggered a sharp crypto selloff, but resilient ETF inflows are keeping its BTC and ETH forecasts intact.