Market Backdrop
As of May 2026, wall street analysts increasingly view crypto firms as essential market infrastructure rather than speculative bets on tokens. Institutional demand for regulated custody, scalable settlement, and AI-powered trading tools is accelerating the pivot from pure-exchange plays to platform rails.
Industry experts say the trend reflects a broader shift toward infrastructure and AI-enabled services that can plug into traditional capital markets. 'Analysts say the value now rests on network effects, liquidity, and compliance' said a veteran researcher. 'wall street analysts increasingly see the payoff in regulated, scalable platforms that can host trading, clearing, and custody.'
Companies Under the Spotlight
Four crypto-related firms have risen to the top of the attention list as investors seek defensible exposure to growth in infrastructure and markets services.
- Bitdeer — Benchmark initiates Buy with a target of $4.50, citing improved mining-services efficiency and potential AI-enabled analytics across fleets.
- Strive — TD Cowen starts Buy coverage, with a $7.20 price target and notes stronger liquidity tooling for retail and professional traders.
- DeFi Technologies — Mizuho lifts Buy on the back of expanding DeFi access and potential tie-ins with traditional clearing workflows; target $3.60.
- Gemini — Benchmark signals Buy as custody, settlement, and compliance features draw institutional interest; target $9.25.
What This Means for Investors
The repositioning of crypto names as infrastructure plays is reshaping portfolios. Asset allocators are increasingly looking for platforms with predictable fee streams, governance controls, and scalable networks that can handle AI-driven order routing and risk checks.
Advisors say the trend could translate into higher trading volumes, improved liquidity, and more resilient business models during crypto bear markets. 'The infrastructure thesis aligns with broader market themes, including AI adoption and regulated markets,' one strategist observed. 'wall street analysts increasingly view this as a durable growth vector rather than a speculative bet.'
Risks and Counterpoints
The same shift that brings opportunity also raises red flags. Regulators are still clarifying rules around crypto markets, custody standards, and cross-border settlement. Competitors from traditional banks and fintechs are racing to roll out similar rails, potentially compressing margins.
Macro conditions, such as interest-rate volatility and FX headwinds, can also pressure crypto platforms that rely on scalps from traders and liquidity providers. Industry observers caution that despite buy ratings, valuation gaps can widen if policy turns unfavorable or if demand for AI-ready infrastructure cools.
Outlook
In the current market environment, wall street analysts increasingly interpret crypto infrastructure and capital-markets platforms as a structural bet rather than a swing trade. If AI tools penetrate deeper into settlements and risk controls, the case for these stocks could strengthen even amid broader crypto volatility. Investors will watch for regulatory milestones and quarterly updates that reveal how these firms monetize platform rails at scale.
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