Bernstein analysts have observed a shift in the cryptocurrency industry’s revenue models despite recent stock price declines for major players like Coinbase, Circle, and Robinhood. Their report highlights that while Bitcoin dips below $85,000, companies are focusing on strategies beyond simple transaction revenue, demonstrating operational flexibility and business model innovation. This evolution represents a significant transformation, with companies actively exploring new avenues previously hindered by regulatory ambiguity. Market observers closely track these trends for insight into the sector’s resilience and adaptability, suggesting a potential shift towards sustained growth amidst challenging market conditions.