ChainThink report, December 20: According to CoinDesk, Wall Street bank Citigroup has updated its digital asset equities report, revising down target prices for select crypto-related stocks amid recent widespread declines across the cryptocurrency market, while maintaining a positive outlook on the sector. In their Friday report, analysts Peter Christiansen and his team stated: "Despite heightened token volatility recently, we remain bullish on digital asset equities." Circle Financial (CRCL), the issuer of stablecoin USDC, remains Citigroup’s top pick, with the team reiterating its $243 target price—despite the stock's recent sharp decline to its current level of $83.60.

Christiansen next highlights Bullish (BLSH) and Coinbase (COIN). He noted: "We believe BLSH is well-positioned to benefit from increasing institutional investor participation—particularly from the U.S.—and growing engagement from traditional finance (TradFi)." The target price for BLSH was lowered from $77 to $67, yet still offers substantial upside from its current trading level of $44. COIN maintains its $505 target price, with shares currently trading at $242. MicroStrategy (MSTR), rated as "Buy," saw its target price reduced from $485 to $325 following a recent drop to approximately $160, but still implies roughly 100% upside potential.