5 Crypto-Centric Stocks in Focus on Recent Positive Developments

The cryptocurrency space has regained momentum this week buoyed by several positives. This space has endured a lot of volatility, like equities this year. Cryptocurrencies started 2025 with much vigor following the resounding presidential election victory of Republican candidate Donald Trump, who is known as an ardent supporter of digital currencies. 

However, the situation turned negative in March and April owing to the imposition of President Trump’s reciprocal tariffs, fear of more inflationary pressures and concerns of a near-term recession. The Fed’s decision not to cut interest rates further also aggravated investors sentiments. 

The space recovered in May following positive developments on the global tariff and trade front. Consequently, Bitcoin (BTC), the largest cryptocurrency globally, touched the all-time high of 111,798.91 on May 23. However, the situation again turned adverse after heightened geopolitical conflicts between Israel and Iran and the involvement of the United States in it. 

Nevertheless, the cryptocurrency space has returned to its northbound trajectory this week following some major developments. At this stage, it will be prudent to focus on the stocks of this space. Five such stocks are: Coinbase Global Inc. COIN, Robinhood Markets Inc. HOOD, Hut 8 Corp. HUT, IREN Ltd. IREN and MARA Holdings Inc. MARA. Each of our picks currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Positive Catalysts

First, on June 23, President Trump announced a ceasefire between Iran and Israel. With this, crude oil prices and the U.S. dollar price index fell steadily. Moreover, in its last FOMC meeting, the Fed’s dot plot indicated a 50 basis-point rate cut by the end of this year. A low-interest rate regime is beneficial for high-growth sectors, such as technology, consumer discretionary and cryptocurrency. 

Second, two Republican Senators, Tim Scott, the Chairman of Banking and Cynthia Lummis, the Head of the Digital Asset Committee Panel, introduced a bill that will define when crypto is a commodity or a security. This will allow crypto exchanges to register with the Commodity Futures Trading Commission thereby reducing the Securities and Exchange Commission’s regulation of digital currencies.

Third, the U.S. Senate recently cleared the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) seeking to regulate the stablecoin market of the nation. Stablecoins are digital assets that are built to maintain a stable value relative to a “stable” asset like the US dollar.

The act is currently awaiting clearance from the House of Representatives. Giant retailers such as Walmart and Amazon are considering launching their own stablecoins to reduce dependence on traditional payment networks like plastic money. 

The chart below shows the price performance of the five above-mentioned stocks in the past month.

Coinbase Global Inc.

Coinbase Global provides financial infrastructure and technology for the crypto economy in the United States and internationally. COIN is poised to gain from growth in crypto assets and higher volumes of transactions. Initiatives to enhance the utility of crypto via Base and Stablecoins are encouraging. 
Subscription and services revenues of COIN are benefiting from higher average USDC on-platform balances, USDC market capitalization and higher average crypto asset prices. A solid financial position bodes well for the company. 

Moreover, COIN offers one of the most user-friendly platforms for investors because of its straightforward user interface and simple buying process. COIN expects subscription and services revenues in the range of $600-$680 million in the second quarter. Its partnership with Stripe should strengthen the global adoption of crypto. 

Coinbase Global has an expected revenue and earnings growth rate of 5.9% and -61.1%, respectively, for the current year. The Zacks Consensus Estimate for the current-year earnings has improved 22.8% in the last 30 days. 

Robinhood Markets Inc.

Robinhood Markets operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform.

Given the higher retail participation in markets, HOOD’s trading revenues are expected to improve in the near future. Buyouts and product diversification efforts to become a leader in the active trader market will likely bolster its financials. HOOD’s vertical integration will likely enhance its product velocity. Further, a robust liquidity position will help HOOD in sustainable share repurchases.

Robinhood Markets has an expected revenue and earnings growth rate of 22.3% and 12.8%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.8% over the last 30 days.

Hut 8 Corp. 

Hut 8 acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. HUT mines Bitcoin. It merged with US Bitcoin Corp. to increase its total hash rate substantially. HUT operates through four segments: Power, Digital Infrastructure, Compute, and Other.

Hut 8 has an expected revenue and earnings growth rate of 32.9% and more than -100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings remained the same over the last 30 days.

IREN Ltd.

IREN is a Bitcoin mining company. IREN builds, owns and operates data center infrastructure with a focus on entry into regions where it can access abundant and/or under-utilized renewable energy to power its operations.

IREN has an expected revenue and earnings growth rate of more than 100% and more than 100%, respectively, for the current year (ending June 2026). The Zacks Consensus Estimate for current-year earnings remained the same over the last 30 days.

MARA Holdings Inc

MARA Holdings was at the center of investor attention amid Donald Trump’s victory buzz. Optimism about pro-digital asset policies fueled hope for reduced compliance hurdles, boosting MARA’s appeal to growth-focused investors. 

MARA strategically expanded its mining capacity, acquiring facilities at remarkably low costs and reinforcing its vertical integration. By holding 47,531 bitcoins at the end of the first quarter of 2025, MARA balanced immediate revenue with long-term potential, leveraging efficient operations to generate robust liquidity.

MARA Holdings has an expected revenue and earnings growth rate of 34.7% and more than -100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings remained the same over the last 30 days.

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This article originally published on Zacks Investment Research (zacks.com).

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