An updated edition of the Nov. 4, 2025 article.
Cryptocurrencies such as Bitcoin, Ethereum, Solana, Cardano, Dogecoin, XRP, stablecoins and other altcoins operate on blockchain networks, decentralized systems that use advanced cryptography to deliver secure, transparent and immutable recordkeeping. This tamper-resistant architecture continues to support growing adoption and investor confidence worldwide.
Recently, digital assets have undergone sharp corrections and extended periods of sideways trading through November and December. Bitcoin, the largest cryptocurrency, has faced bearish sentiment amid a difficult macroeconomic backdrop and tighter liquidity conditions. During the past 12 months, Bitcoin traded between a low of $76,270.13 and a high of $124,714.85. Over the last seven days, Bitcoin has slipped 0.1%, while Ethereum and Solana have declined 3.7% and 4.7%, respectively.
Nevertheless, long-term expectations remain bullish due to a favorable regulatory environment and growing institutional acceptance. The GENIUS Act, passed on July 17, establishes a legislative foundation for stablecoins, which benefits the likes of Circle Internet Group CRCL that offers USDC. On Dec. 18, SoFi Technologies SOFI launched SoFiUSD, a fully reserved U.S. dollar stablecoin that can be used by banks, fintechs and enterprise platforms. J.P. Morgan recently launched a tokenized money-market fund on Ethereum, while Italian bank UniCredit issued its first tokenized structured note on a public blockchain.
U.S. policy direction under President Donald Trump has further supported the market. Securities and Exchange Commission’s (SEC) Spring 2025 Regulatory Agenda introduces potential rules, including amendments to Exchange Act Rules to account for the trading of crypto assets on Alternative Trading Systems and national securities exchanges, as well as rules relating to the offer and sale of crypto assets. In September, the Nasdaq filed a Form 19b-4 with the SEC, proposing rule changes that would allow trading of equity securities and exchange-traded products (ETPs) in “tokenized form” (utilizing blockchain technology) on Nasdaq. These developments bode well for digital asset providers like Robinhood HOOD and Figure Technology Solutions FIGR.
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Robinhood is benefiting from higher transaction revenues driven by growing retail market participation. Strategic acquisitions and product expansion efforts aimed at active traders are expected to benefit this Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
HOOD launched Cortex, an AI assistant for custom indicators, market analysis and real-time insights. The Legend adds advanced tools such as futures trading, short selling, simulated options returns and near-24/5 index options access. Robinhood Social introduces verified trading profiles, strategy sharing, expert portfolio tracking, and soon copy trading, with users able to open up to 10 accounts for different strategies. New banking features (including expansion into mortgage loans) and a gold credit card have broadened its personal-finance footprint.
Acquisitions have deepened Robinhood’s footprint and expanded its product reach within the United States and globally. In November, in partnership with Susquehanna International Group, Robinhood announced a deal to acquire a 90% stake in MIAX Derivatives Exchange. In December 2025, HOOD agreed to acquire PT Buana Capital Sekuritas and PT Pedagang Aset Kripto, marking its entry into Indonesia and accelerating its APAC expansion plan.
Figure Technology Solutions is attracting attention due to its launch of blockchain-native public equity security, which allows investors to hold, transfer and collateralize Figure stock directly on the Provenance blockchain. This allows investors to fast settle bilateral deals, 24/7 trading, cross-collateralization of the security to other assets and the ability to lend or borrow the stock transparently. Figure’s blockchain-native structure eliminates a complex stack of intermediaries, including custodians and clearing firms, to prime brokers and introducing brokers.
This Zacks Rank #2 (Buy) company reported 70% jump in total consumer loan marketplace volume to $2.5 billion in the third quarter of 2025, driven by continued expansion across its origination partner network and increased utilization of Figure Connect for liquidity. Blockchain-based solutions for crypto-backed loans, loans to small and medium businesses and debt service covenant ratio loans contributed more than $80 million in volume in the reported quarter. At the end of the third quarter of 2025, Figure originated more than $18 billion in loans on the Provenance blockchain and executed over $60 billion in blockchain transactions. Growing adoption of the Figure Connect marketplace by partners to access the capital market has been a key catalyst for FIGR.
Circle Internet Group offers USDC stablecoin, which is redeemable on a one-for-one basis for U.S. dollars and is backed by reserves consisting of highly liquid, price-stable cash and cash equivalents. As of Dec. 18, $77.2 billion USDCs were in circulation, rising from $73.7 billion at the end of the third quarter of 2025. An expanding partner base, which includes the likes of Kraken, Binance, Corpay, FIS, Fiserv, OKX, Finastra and Fireblocks, is noteworthy.
Circle’s Cross-Chain Transfer Protocol has emerged as a trusted, efficient way to move digital dollars across blockchain networks, helping attract major partners like Visa, Deutsche Börse, Kraken, Finastra and global banks. Meanwhile, the rapid expansion of the Circle Payments Network (CPN) is opening new corridors for USDC payments. As CPN scales across multiple regions, the ease of using USDC for everyday financial flows is rising, reinforcing adoption and strengthening Circle’s network effects. This accelerating adoption is translating into steady financial gains. This Zacks Rank #3 (Hold) company’s position remains encouraging as institutional demand climbs, regulatory clarity strengthens and CPN expands globally.
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SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report
Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report
Circle Internet Group, Inc. (CRCL) : Free Stock Analysis Report
Figure Technology Solutions, Inc. (FIGR) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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