Crypto stocks, including digital asset treasury (DAT), exchanges, and miners, have plunged this year as Bitcoin and most altcoins imploded. Bitcoin price plunged to $60,000, while most altcoins fell to their multi-year lows. This article explores some of the top crypto stocks to watch this week.
Coinbase stock in focus ahead of earnings
Coinbase stock price has imploded in the past few months as it plunged from a high of $445 in July last year to the current $165. This crash happened as Bitcoin and most altcoins continued their strong crash.
Crypto exchanges make more money when prices are rising since this usually attrracts more users to the ecosystem. Therefore, analysts believe that Coinbase’s revenue and profitability growth will remain under pressure for a while.
On the positive side for Coinbase, it has invested heavily in other services. It makes millions of dollars in blockchain rewards, stablecoins, custody, and subscription business. It has also moved to the predictions and tokenized stocks industry.
Coinbase will be a top stock to watch this week as it releases its financial results. Analysts believe that its quarterly revenue will come in at $1.85 billion, down by over 18% YoY. This figure will bring the annual revenue to $7.25 billion, up by 10% YoY.
The company’s earnings per share (EPS) is expected to come in at $1.01, down sharply from the $4.68 it made
Robinhood stock in the spotlight ahead of its earnings
Robinhood is another top crypto stock to watch this week as the company publishes its financial results. The stock has retreated from a high of $155 in October to the current $82.
While Robinhood is known for stocks and options trading solutions, it has become a major player in the crypto industry. Users can trade and invest in digital coins on its platform and on BitStamp, the exchange it acquired last year.
The most recent results showed that Robinhood was one of the fastest-growing players in the crypto trading solutions as its revenue jumped by triple digits. The upcoming results will likely show that the segment slowed in the last quarter as the crypto market crash happened.
Analysts expect the upcoming results to show that its revenue rose by 32% in the last quarter to $1.34 billion. This growth will bring its annual revenue to over $4.5 billion. The revenue growth is expected to slow from 53% in 2025 to 22% this year.
BMNR and MSTR stocks in focus as NAV falls
Strategy, formerly known as MicroStrategy, and Tom Lee’s BitMine will be in the spotlight as investors focus on their crypto holdings. MSTR stock price jumped by over 26% on Friday as Bitcoin stabilized above $60,000. Similarly, BitMine rebounded sharply as Ethereum bounced back. They all remain sharply lower than their all-time highs.
The stocks will be in the spotlight this week as they reveal their crypto purchases last week as Bitcoin and Ethereum prices dropped. Also, they will react to the performance of their core holdings.
Analysts have mixed sentiments on the two companies. Some believe that they have now become extremely oversold and bargains. For example, TD Cowen boosted the MSTR stock target to $440 saying that it had become oversold and cheap.
The other top crypto stocks to watch this week will be mining companies like IREN, Bitfarms, and MARA Holdings.
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