By February 2026, the monthly trading volume of stablecoins reached $1.8 trillion, with USDC surpassing USDT for the first time, indicating institutional preference for compliant dollar facilities. Circle used USDC to complete a rapid cross-border settlement of $68 million, and investment institutions are optimistic about its prospects, rating it as outperforming the market. Competitive pressure comes from Tether, PayPal, and Stripe.

Analyst Bernstein maintains a "beat the market" rating on USDC issuer Circle, with a target price of $190, noting that stablecoins are gradually moving away from the crypto market cycle, with USDC supply rebounding to $78 billion. Payment applications are the main driving force. Stablecoins are embedding into traditional payment networks, and AI-driven "agent finance" could become a new growth point.

Investment bank B. Riley initiates coverage on Strategy (MSTR) and Strive (ASST), both with a buy rating, with target prices of $175 and $12 respectively. Due to the decline in Bitcoin prices affecting market capitalization, both companies' stock prices are below their net asset value, but analysts believe their preferred stock yields are attractive and could drive growth in digital credit financing.

Analyst Bernstein maintains a bullish outlook on stablecoin issuer Circle, with a target price of $190, expecting a 70% increase. The analysis points out that stablecoins are gradually decoupling from the crypto market, with USDC supply rebounding to approximately $78 billion, and the total stablecoin supply reaching $184 billion.

SoftBank's stock price plummeted 9.8% due to OpenAI and Oracle abandoning plans to expand data centers in Texas. Over the past four months, the stock has nearly halved, and investors are concerned about its heavy investment in OpenAI. Rating agencies have downgraded its outlook to negative, reflecting liquidity issues and credit risk.

Benchmark analyst reaffirms a "Buy" rating on Strategy with a target price of $705, expecting the stock to have a 430% upside. The company will shift to STRC preferred stock financing to boost Bitcoin reserves, which is expected to accelerate the growth rate of Bitcoin holdings per share. STRC's current price has risen back to nearly $100, with an annualized return of approximately 11%.

Benchmark reiterates its "Buy" rating on Hut 8 with a $85 target price, noting that the company is transitioning toward a power-first digital infrastructure platform, with 2026 expected to be the year of execution and delivery. Despite recording a net loss of $301.8 million in the fourth quarter, revenue nearly tripled year-over-year, with the core investment thesis based on a long-term leasing agreement supported by Google Finance.