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Аналитики исследовательской и брокерской компании Bernstein поддерживают рейтинг "покупать" для Robinhood Markets с целевой ценой 160 долларов, утверждая, что недавно запущенная сеть второго уровня Robinhood Chain стала источником прибыли для компании. С момента запуска 1 июля эта сеть накопила около 39 миллионов долларов сборов, и ожидается, что к 2028 году годовые сборы могут достичь 160 миллионов долларов. За последние 15 дней Robinhood Chain с примерно 33 миллионами долларов сборов заняла первое место среди всех цепочек, опередив Solana (около 11 миллионов долларов) и BNB Chain (около 9 миллионов долларов).Согласно отчету Bernstein, Robinhood удерживает около 90% сборов, около 10% идет компании Arbitrum, предоставляющей технологии, и менее 1% выплачивается Ethereum в качестве сборов за данные. Стоимость токенизированных акций на Robinhood Chain за последние два месяца выросла с примерно 10 миллионов долларов до 140 миллионов долларов, на неделе, заканчивающейся 30 августа, она составила около 32% от общего объема токенизированных акций, уступая лишь BNB Chain. Общая эмиссия стейблкоинов на этой цепочке достигла около 1 миллиарда долларов, значительно увеличившись с примерно 241 миллиона долларов в начале июля, из которых USDG составляет около 66%, а USDe — около 33%.Акции Robinhood упали на 2,09% в прошлую пятницу, закрывшись на уровне 122,11 долларов, целевая цена предполагает около 31% потенциала роста. Американский рынок в понедельник был закрыт из-за государственного праздника.

Bernstein analysts stated last week that Figure Technology Solutions' first-quarter financial report shows the company is rapidly becoming a unique presence in the blockchain market platform. The performance released by Figure on May 11 significantly exceeded Wall Street expectations in both revenue and EBITDA, with its core business transforming real-world credit assets into blockchain-native tools that can be traded and financed on-chain.Analysts believe Figure is building a blockchain-native capital market ecosystem, fundamentally differentiating itself from traditional balance sheet-based fintech lending platforms, and expect its stock FIGR to become a real-time reflection of blockchain loan volumes. Bernstein pointed out in a research report on May 15 that on-chain real-time data indicates Figure is about to welcome a record-breaking second quarter.Co-founder Mike Cagney introduced that the company's Forge platform can convert entire loans into small single-dollar liquidity participation units, addressing the liquidity challenges of RWA in DeFi. Bernstein previously estimated that the potential market size for annual credit issuance that could migrate on-chain could reach $4 trillion, while the current tokenized credit market is approximately $5.14 billion.

Bernstein reiterated its "Outperform" rating on Figure Technology Solutions (FIGR) and maintained a target price of $67, implying about a 72% upside from the current stock price of $38.97. Figure's Q1 2026 performance was strong: loan issuance reached $2.9 billion, a year-on-year increase of 113%; adjusted revenue was $167 million, a year-on-year increase of 92%, exceeding market expectations by 6%; adjusted EBITDA was $82.7 million, with a profit margin of about 50%, slightly above market expectations. However, the GAAP diluted EPS was $0.18, about 9% below expectations, primarily impacted by $26 million in equity incentive expenses.Bernstein's analysis suggests that this performance should reshape the market's perception of Figure, as it is not a traditional credit company, but rather a "tokenization-driven capital market platform," with core profits coming from network fees and operational leverage, and it maintains a pricing model based on a 25x EBITDA valuation for 2027. Additionally, the tokenization ecosystem continues to expand: the yield-bearing security token YLDS reached $598 million (up 80% quarter-on-quarter); the balance of stock lending products was $368 million (up 79%); and the small business loan segment contributed $6 million in revenue. Figure's current stock price is still not far from the 2025 IPO issue price of $36, but there remains a significant gap from the historical high of $78.

Bernstein stated that it maintains a target price of $190 for Circle (CRCL): Although the decline in interest rates led to a quarter-over-quarter drop in reserve income of 11%, Q1 revenue of $694 million was slightly below expectations, but adjusted EBITDA reached $151 million, exceeding consensus by about 10%. Analysts pointed out that Circle's $222 million ARC token presale, completed at a fully diluted valuation of $3 billion, along with robust growth in USDC supply reaching $77 billion (a year-on-year increase of 28%), provides a buffer for the company.According to Gate's market data, Circle's stock closed at $131.76 on Monday, with the target price implying about a 44% upside. Bernstein reiterated that the upcoming launch of the Arc Layer 1 mainnet, the expansion of the payment network, and its leading position in AI agent payments (x402 standard) will support the long-term growth of USDC and maintain the fiscal year 2026 guidance unchanged.

Elon Musk just responded on the X platform regarding the topic "What has Bernie Sanders contributed to society in 45 years of politics" by saying "Memes." Stimulated by this news, the Solana ecosystem meme coin BURNIE briefly surged over 1x.According to GMGN market data, as of the time of publication, BURNIE's market cap is reported at 18.07 million USD, which quickly fell back after the brief surge.ChainCatcher reminds users that the prices of related tokens are highly volatile, and users should invest with caution.

According to Theblock, despite Robinhood's first-quarter performance falling short of expectations, Bernstein analyst Gautam Chhugani's team maintains an outperform rating on HOOD with a target price of $130.Analysts pointed out that the weak performance in the first quarter has already been reflected in the stock price. They highlighted that several core metrics of Robinhood remain strong: the margin loan balance reached a record $17 billion (up 93% year-over-year), event contract trading was active in April, predicting the market size is moving towards $3 billion, and Robinhood Gold subscription users increased by 36% year-over-year to 4.34 million.However, the current market shows that Robinhood (HOOD) is down over 10% in pre-market trading.

According to The Block, analysts at research firm Bernstein stated in their latest report that the fundamentals of the crypto market are continuously improving. The recent low of $60,000 for Bitcoin has formed a clear bottom, and the current price is approaching $80,000. Driven by institutional demand, a longer structural bull market is expected.Bernstein analyst Gautam Chhugani pointed out the following core driving factors:Institutional channels continue to expand: Morgan Stanley's Bitcoin ETF and Charles Schwab's spot Bitcoin/Ethereum trading platform have been launched one after another, with about 60% of Bitcoin supply not having moved for over a year, indicating a stable holder structure;Strategy continues to increase holdings: its STRC perpetual preferred stock product attracts income-focused investors, with current holdings reaching 818,334 Bitcoins;Demand for stablecoins reaches an all-time high: stablecoin supply has surpassed $30 billion, decoupling from the price cycle of the crypto market, showing that real payment and settlement demand continues to grow;Tokenization of real assets accelerates expansion: the scale of tokenized assets such as private credit and government bonds has reached $345 billion, a year-on-year increase of 110%.Bernstein also noted that quantum computing poses a long-term potential risk, but the blockchain ecosystem is expected to have ample time to complete the post-quantum security transition.

According to Globenewswire, the American law firm Bernstein Liebhard has announced that it has filed a securities fraud class action lawsuit on behalf of investors against the Nasdaq-listed cryptocurrency exchange Gemini Space Station, alleging that Gemini made false statements regarding its business operations and prospects in its prospectus and related disclosures, particularly accused of exaggerating the viability of its core cryptocurrency platform business. Investors wishing to serve as lead plaintiffs must submit their applications by May 18, 2026.It is reported that Bernstein Liebhard is a well-known investor relations law firm that has previously filed class action lawsuits against companies such as Ruhnn, Apple, and AsiaInfo-Linkage.

According to Theblock, the analyst team at research and brokerage firm Bernstein predicts that by 2030, the annual trading volume of the prediction market will reach $1 trillion, citing reasons such as regulatory clarity, mainstream distribution partnerships, and structural liquidity advantages compared to the traditional gaming market.It is reported that the trading volume of Kalshi and Polymarket has reached a total of $60 billion so far this year, with analysts expecting the trading volume to reach $240 billion by 2026 and maintain an 80% compound annual growth rate by the end of 2030.Sports entertainment contracts currently account for as much as 62% of the trading volume in the prediction market, but analysts predict that this share may slow down to around 31% by the end of 2030, as cryptocurrency, macroeconomic, political, and economic contracts will become larger long-term opportunities. They stated that sports events are just a starting point, not the ultimate goal.

According to on-chain analyst Onchain Lens, a certain whale exchanged 2,831 ETH (approximately 6.67 million USD) for 90.46 WBTC after being dormant for 2.5 months.The whale currently still holds 21,733 ETH, worth approximately 51.46 million USD.

According to Cointelegraph, Bernstein stated that the previous pullback of Bitcoin has to some extent reflected the market's concerns about the risks of quantum computing, believing that this threat is "real but manageable," and is not yet an imminent systemic risk.Although research, including that from Google, suggests that future quantum computers could potentially crack commonly used blockchain encryption algorithms quickly under extreme conditions, advancements in zero-knowledge proofs and post-quantum cryptography have formed a hedge to some extent.Bernstein believes that Bitcoin developers still have about 3 to 5 years to advance the post-quantum upgrade path and mentioned the current BIP-360 proposal, which could reduce some quantum exposure risks through a soft fork. Additionally, institutional investors (including ETF issuers and corporate holders) are expected to play an active role in promoting consensus for the upgrade.However, industry opinions point out that the main challenge of the post-quantum upgrade lies in user migration and consensus formation, rather than the technical implementation itself.

According to monitoring by Lookonchain, the whale bc1quv transferred 5,500 bitcoins (worth $366 million) to a new wallet after being dormant for 5 years. These 5,500 bitcoins were transferred from Gemini 6 years ago, with an average transfer price of about $7,129.

Research and brokerage firm Bernstein stated that Bitcoin has likely bottomed out and is expected to continue rising, while maintaining its price target of $150,000 by 2026.Despite the stock price dropping 50% from its peak, Strategy (stock code: MSTR) has shown strong resilience, currently holding about 3.6% of the total Bitcoin supply (approximately $53.5 billion). Bernstein believes that MSTR is a high beta investment vehicle for Bitcoin, and its balance sheet is relatively robust. Strategy has not reduced its exposure; instead, it has continued to increase its Bitcoin holdings at recent lows, raising $7.3 billion through financing in 2026 to expand its position.

The decentralized GPU computing infrastructure Aethir officially launched its managed Kubernetes service today, strategically extending into the enterprise AI infrastructure market.Kubernetes (K8s), as the "gold standard" in the open-source container orchestration field, can automate the management of large-scale server clusters. Aethir's move aims to provide global AI teams with a high-performance development environment that is ready to use without the hassle of managing underlying hardware.The core features of Aethir's managed Kubernetes service include: minute-level cluster deployment: enterprises can launch GPU-supported Kubernetes clusters in minutes through a self-service API; high-end GPU support: offering the latest generation of GPUs such as NVIDIA H100, H200, B200; transparent pricing: starting at $1.45/hour with no outbound data transfer fees; enterprise-grade security: zero-trust access control, RBAC, and complete audit logs.Aethir offers a pricing model that is lower than traditional centralized cloud providers. By eliminating redundant intermediary premiums and high virtualization taxes, Aethir has reduced overall computing costs by 60% to 80%. Aethir's decentralized infrastructure spans 95 countries and regions globally, with 435,000 GPU containers providing low-latency computing access across more than 200 physical nodes, serving over 150 enterprise clients.

According to Cointelegraph, investment research firm Bernstein pointed out in its latest report that the core driving force behind Bitcoin's recent rebound is the continuous strengthening of the long-term holder structure.In the past week, BTC rose about 7%, and ETH rose about 9%, outperforming gold and major stock indices. Bernstein attributes this to the ongoing inflow of funds into the U.S. spot Bitcoin ETF, as well as the continued accumulation by companies like Strategy. In terms of fund inflows, the U.S. spot Bitcoin ETF has seen three consecutive weeks of net inflows, totaling over $2.1 billion; the net outflow since the beginning of the year has narrowed to about $460 million, while the total assets under management are approximately $92 billion.Regarding the holding structure, according to Glassnode data, about 60% of the Bitcoin supply has not seen on-chain transfers for over a year. Bitcoin Treasuries data shows that ETFs and exchanges collectively hold about 1.6 million BTC, while publicly traded companies hold about 1.15 million BTC. In terms of corporate accumulation, Strategy has accumulated a total of 66,231 BTC since the beginning of the year, costing about $5.6 billion, with an average price of about $85,000, and the total holdings have exceeded 738,000 BTC.

According to CoinDesk, analysts at brokerage firm Bernstein maintain an "outperform" rating on USDC issuer Circle's stock, with a target price of $190, representing about a 60% upside from the current level of $120.The report notes that the adoption of stablecoins is increasingly decoupling from the cryptocurrency market cycle. Despite the market being in a bear phase, the supply of USDC has rebounded to nearly a record $78 billion, and the total market capitalization of dollar-pegged stablecoins remains stable at around $270 billion. Adjusted stablecoin trading volume has increased by over 90% year-on-year, with trading turnover rising, indicating that stablecoins are being used more frequently in scenarios outside of cryptocurrency trading.Payment adoption is the main driver, as stablecoins are gradually being integrated into traditional card networks. Visa currently supports over 130 stablecoin-linked cards across more than 50 countries, with an annual settlement volume of approximately $4.6 billion. AI-driven "proxy finance" could become a new growth theme, as machine-to-machine micropayments between autonomous software agents will require stablecoins as a natural payment rail.

The prediction market platform Kalshi has publicly disclosed its first cases of regulatory violations, involving former California gubernatorial candidate Kyle Langford and video editor Artem Kaptur from YouTube star MrBeast's team.Langford was fined $2,246.36 and banned from using the platform for five years for posting a video on X platform showing his bet on his own election victory, violating the platform's rules that prohibit candidates from betting in related election markets. Kaptur was accused of using insider information to trade approximately $4,000 in related markets during his tenure at MrBeast, resulting in significant profits; he was fined $20,397.58 and suspended for two years. MrBeast's parent company, Beast Industries, stated that it has initiated an internal investigation and emphasized a zero-tolerance policy for such behavior.Kalshi has reported both cases to the Commodity Futures Trading Commission, and the fines will be donated to nonprofit organizations. The platform revealed that it has conducted over 200 investigations into insider trading in the past year.

According to The Block, Robinhood's stock price fell on Tuesday after the company reported a year-over-year decline in cryptocurrency business revenue for the fourth quarter. However, analysts from research and brokerage firm Bernstein stated that this weakness reflects a temporary "crypto market tension" and reiterated their target price of $160.Robinhood's total revenue reached an all-time high, but cryptocurrency trading revenue fell 38% year-over-year to $221 million. Bernstein analysts noted that the revenue weakness due to decreased crypto trading activity was "expected" and stated that "there is no need to turn bearish when the stock price is approaching a cyclical low." Despite the "crypto market tension," several business metrics for the company remained "robust" in the fourth quarter. Additionally, Robinhood Banking, launched at the end of 2025, has attracted over 25,000 funded customers, with total account balances exceeding $400 million.Analysts pointed out that Robinhood's prediction market set a new record, accounting for about 14% of trading revenue and 8% of total revenue. The platform traded 8.5 billion contracts in the fourth quarter, far exceeding previous expectations. The report indicated that trading volume at the beginning of 2026 reached $4 billion, while the previously forecasted trading volume for 2026 was $27 billion.