JPMorgan has revised price targets for mining stocks and approved Ripple's status. Bitwise issues its predictions for crypto IPOs.
JPMorgan's Price Target Increase
JPMorgan has raised price targets for four mining stocks, including MARA Holdings and CleanSpark. The analysts adjusted their valuations by considering the companies' energy assets and BTC holdings. Each stock trades close to or above the new targets.
Ripple's Stablecoin Approved by NYDFS
Ripple Labs CEO Brad Garlinghouse announced that NYDFS approved the RLUSD stablecoin. Ripple plans to launch it as a competitor to USDt and USDC. Testing began on the XRP and Ethereum blockchains in August.
Bitwise 2025 Crypto Unicorn IPO Predictions
Bitwise predicts that five crypto unicorns, including Circle and Kraken, will go public in 2025. Factors include growing investment and a favorable macro environment. Anchorage Digital and Chainalysis are also highlighted as potential participants.
The cryptocurrency sector continues to develop rapidly with new stock projections and companies like Ripple strengthening their regulatory positions. Bitwise is confident in new crypto company IPOs by 2025.
