A recent report from Bernstein reaffirms a positive outlook for Robinhood and Coinbase, citing strong fundamentals and increased investor engagement.
Robinhood's Q2 Results
In the second quarter, Robinhood impressed with its performance, especially in the crypto sector. Trading volumes hit a six-month high in July, boosted by renewed interest in Ethereum, Solana, and DeFi tokens following Circle’s new listings.
Coinbase's Partnerships with Traditional Finance
Coinbase also received praise for its deepening ties with traditional finance. The report highlighted its strategic partnership with JPMorgan Chase as a major driver of crypto adoption, marking a notable shift from the bank's earlier skepticism toward digital assets.
Market Outlook According to Bernstein
Bernstein concluded that the combination of rising volatility, expanding crypto offerings, and increased institutional involvement supports the view that the market cycle is still in its early stages. The firm advised investors to stay the course, adding that there's 'no need for any action for now.'
Thus, Bernstein identifies significant growth potential for Robinhood and Coinbase, linking it to rising interest in the crypto market and new strategic partnerships.
