Bernstein Maintains Outperform Rating on Robinhood with Target Price of $160

Bernstein analysts have maintained an outperform rating on Robinhood Markets with a target price of $160, noting that its newly launched Layer 2 network has quickly become a source of profitability. Since its launch on July 1, Robinhood Chain has experienced rapid growth, with a current TVL (Total Value Locked) of approximately $1.5 billion and DEX (Decentralized Exchange) trading volume exceeding $50 billion. Analysts state that the chain is now capable of generating profits, with transaction fees ranging from $2 million to $4 million per day. Over the past 15 days, Robinhood Chain's fee revenue has ranked first among all blockchains, reaching approximately $33 million, surpassing Solana's roughly $11 million and BNB Chain's approximately $9 million.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.