Cryptocurrency stocks, including digital asset treasury (DAT), exchanges, and miners, have plummeted this year as Bitcoin and most altcoins imploded. The price of Bitcoin has fallen to $60,000, and most altcoins have fallen to multi-year lows. In this article, we explore some of the crypto stocks to watch this week.
Pay attention to Coinbase stock before earnings
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Coinbase stock has imploded over the past few months, plummeting from a high of $445 last July to its current $165. This crash comes as Bitcoin and most altcoins continue to experience a severe sell-off.
Higher prices usually attract more users to the ecosystem, so cryptocurrency exchanges make more money. Therefore, analysts believe that Coinbase’s revenue and profit growth will be under pressure for some time.
On the positive side for Coinbase, it is making significant investments in other services. He has made millions of dollars in blockchain rewards, stablecoins, custody, and subscription businesses. We have also moved into the prediction and tokenized equity industry.
Coinbase will be a hot stock when it releases earnings this week. Analysts expect the company’s quarterly revenue to be $1.85 billion, down more than 18% from a year ago. This number puts annual revenue at $7.25 billion, up 10% year over year.
The company’s earnings per share (EPS) are now expected to be $1.01, down from the initial estimate of $4.68.
Robinhood stock attracts attention ahead of earnings report
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Robinhood is another top crypto stock to watch this week as the company releases its earnings results. The stock price has fallen from an October high of $155 to the current $82.
Robinhood is known for its stock and options trading solutions, but it has also become a major player in the cryptocurrency industry. Users can trade and invest in digital coins on the company’s platform and BitStamp, an exchange it acquired last year.
Latest results show Robinhood is one of the fastest growing players in crypto trading solutions with triple-digit revenue growth. Future results are likely to show that the sector slowed last quarter due to the crypto market crash.
Analysts expect the company’s upcoming results to post revenue of $1.34 billion, up 32% from last quarter. This growth will result in annual revenue of more than $4.5 billion. Sales growth is expected to slow to 22% this year from 53% in 2025.
Focus on BMNR stock and MSTR stock as NAV declines
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Strategy, formerly known as MicroStrategy, and Tom Lee’s BitMine will be in the spotlight as investors focus on their crypto holdings. MSTR stock rose more than 26% on Friday as Bitcoin stabilized above $60,000. Similarly, as Ethereum rallied, so did Bitmine. Both remain well below their all-time highs.
This stock will be in the spotlight this week as it reveals its crypto purchases last week as Bitcoin and Ethereum prices fall. It will also react to the performance of its core holdings.
Analysts have mixed feelings about both companies. Some people think it’s now extremely oversold and a bargain. For example, TD Cowen said MSTR stock is oversold and undervalued, and raised his price target to $440.
Other top crypto stocks to watch this week are mining companies like IREN, Bitfarms, and MARA Holdings.
