Bernstein: Crypto Bull Market Cycle Still 'Early Stage'

BlockBeats News, July 31st, according to The Block, Bernstein stated that the current crypto bull market cycle is still in its early stages, and trading platforms such as Robinhood and Coinbase are poised to benefit from the increased trading volume and mainstream market adoption. Bernstein reiterated its "outperform" rating for both companies, maintaining confidence in their performance.

The report shows that Robinhood's second-quarter performance, announced on Wednesday, was impressive and continues to expand its cryptocurrency products. In July, its trading volume soared to a six-month high, benefiting from the resurgence in market volatility and factors such as the listing on Circle. Investors' interest in ETH, SOL, and DeFi tokens is growing, and it is expected that cryptocurrency trading volume will significantly increase in the second half of the year. Additionally, the report mentioned Coinbase's strategic partnership with JPMorgan Chase, which has greatly promoted the mainstream adoption of digital assets. Bernstein believes that the current crypto bull market is still early, with recent developments supporting this view, stating that there is currently "no need to take action."