Bernstein maintains an "outperform" rating on Robinhood and Coinbase, stating that the crypto bull market is still in its early stages

ChainCatcher news, according to The Block, research institution Bernstein maintains an "outperform" rating for Robinhood and Coinbase, stating that the crypto bull market is still in its early stages. Robinhood's revenue in the second quarter increased by 46% year-on-year, and crypto trading volume grew by 32% year-on-year.

Coinbase has reached a strategic partnership with JPMorgan, allowing Chase Bank customers to directly link their Coinbase accounts and exchange reward points 1:1 for USDC.

Bernstein analysts noted that although Robinhood and Coinbase's stock prices have significantly risen this year, the current cryptocurrency bull market is still in its early stages. Specifically, Robinhood's stock price has increased by over 175% this year, while Coinbase's has risen by 47%. In contrast, Bitcoin and Ethereum have increased by 27% and 15% respectively this year.

Bernstein believes that Coinbase is becoming the core platform for traditional banks to access blockchain financial infrastructure, and this trend will accelerate the mainstream application of USDC in payments and savings.