Research Reports 5 reports

Fundamental valuations with explicit USD price targets.

Filter:All Exchange Miner Token Treasury
5 reports
T
Ethereum ETH Token Buy
Ethereum is the dominant settlement layer for decentralized finance, generating $2.7B in annualized fee revenue. With EIP-1559 burn mechanics making ETH deflationary at high usage, and the restaking ecosystem expanding total yield opportunities, our DCF model prices ETH at $8,500 based on projected 2025 fee revenue of $5.2B.
Layer 1 / Smart Contract Platform
Current Price LIVE $2,303.14
Target 🔒 $XX,XXX
Upside 🔒 +XX.X%
Mkt Cap $278.7B
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Marathon Digital Holdings MARA Miner Buy
Marathon is the largest publicly traded Bitcoin miner by hash rate (33.7 EH/s) and BTC holdings (17,631 BTC). Our valuation combines a per-EH/s hash rate multiple, NAV on BTC treasury, and a DCF on mining operations assuming BTC at $120K. At $42, MARA trades at fair value for its combined mining + treasury business.
Bitcoin Mining
Current Price LIVE $11.22
Target 🔒 $XX,XXX
Upside 🔒 +XX.X%
Mkt Cap $5.2B
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Bitcoin BTC Token Strong Buy
Bitcoin remains the most asymmetric risk/reward asset in crypto. With the 2024 halving complete and institutional adoption accelerating via spot ETFs, BTC is positioned for a supply-driven repricing. Our $185,000 target reflects a conservative 3.2% capture of global store-of-value markets (gold, bonds, real estate) by end of cycle.
Layer 1 / Store of Value
Current Price LIVE $75,193.00
Target 🔒 $XX,XXX
Upside 🔒 +XX.X%
Mkt Cap $1.51T
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MicroStrategy MSTR Treasury Buy
MicroStrategy holds 214,246 BTC ($18.1B) acquired at an average cost of $35,160 per coin. The stock trades at a 1.55x NAV premium justified by its unique "BTC yield" strategy -- using capital markets to accretively increase BTC per share. Our $2,400 target assumes BTC at $140K and a sustained 1.3x NAV premium.
Bitcoin Treasury / Enterprise Software
Current Price LIVE $165.35
Target 🔒 $XX,XXX
Upside 🔒 +XX.X%
Mkt Cap $28.0B
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Coinbase Global COIN Exchange Buy
Coinbase is the only publicly traded, fully regulated US crypto exchange. Our sum-of-parts analysis values the exchange at $28B, staking/custody at $8B, and Base L2 at $12B. At $380 per share, Coinbase reflects fair value for a business that will benefit disproportionately from US regulatory clarity and the next retail wave.
Crypto Exchange / Financial Infrastructure
Current Price LIVE $203.85
Target 🔒 $XX,XXX
Upside 🔒 +XX.X%
Mkt Cap $51.0B