U.S. equities closed mixed, with crypto-related listed equities showing divergent moves. Bitcoin regained the $70,000 level as crude oil plunged, supporting a partial improvement in risk sentiment. Yet, moves were differentiated across crypto-related names.
Circle’s CRCL rose about 5.6% as its tokenized money-market fund USYC surpassed $2 billion in assets. Bernstein recently reiterated an Outperform rating with a $190 target, implying roughly 70% upside from the recent close.
FIGR jumped roughly 21%, among the strongest gainers in listed crypto stocks, on expectations of growing demand for blockchain-based lending and asset-tokenization infrastructure. The on-chain tokenized stock market has surpassed $1 billion in notional value, with Ondo Finance’s xStocks and Backed Finance’s platforms forming a near-duopoly in the space.
Overall, the CryptoStock sector showed strength in structural growth areas like stablecoins and real-world asset tokenization. The industry is moving beyond simple price cycles to broader use cases such as payments and financial infrastructure.
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