13 Best Cryptocurrency Stocks to Buy Now

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3. Robinhood Markets, Inc. (NASDAQ:HOOD)

Average Upside Potential as of March 11: 58.78%

Number of Hedge Fund Holders: 79

Robinhood Markets, Inc. (NASDAQ:HOOD) is a financial services company that offers a platform that allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company announced a staggering 700% increase in cryptocurrency trading revenue during the fourth quarter of 2024, enabling the retail brokerage to achieve record profits as digital asset activity bounced back.

Crypto revenue soared to $358 million, a significant rise from $45 million in the same quarter last year, as net income skyrocketed more than tenfold to $916 million. Amid the solid financial results, Robinhood Markets, Inc. (NASDAQ:HOOD) is enhancing its footprint in the cryptocurrency market, revealing in June an agreement to purchase Bitstamp for $200 million, as part of its strategy to broaden its international reach. Additionally, the company introduced Ethereum staking in the European Union and added seven new tokens in the United States during the last quarter.

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