Bullish Roars: Crypto’s New Kid Steals the Spotlight 🐂🔥

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What to know:

  • Bullish’s share of the global crypto spot trading market climbed from 2.1% in the third quarter to 3.7% in November.
  • The company launched operations in the U.S. and introduced an options trading platform to expand its product suite.
  • Analyst Owen Lau said strong blockchain fundamentals and a more attractive valuation support the upgrade.

In the quiet chaos of the cryptocurrency markets, where fortunes rise and fall like teacups in a hurricane, ClearStreet analyst Owen Lau has declared Bullish (BLSH) worthy of a “Buy” rating. One might call it a resurrection-or perhaps a well-timed costume change. After all, who wouldn’t want to own a stock that’s dropped 21% since October? 🐆💸

Lau, armed with spreadsheets and a healthy dose of optimism, notes Bullish’s market share leapt from 2.1% to 3.7% in three short months. Such growth! One could almost imagine the rival exchanges (Bitget, Bybit, Gate) whispering, “How dare they take our volume?” Meanwhile, Bullish’s October trading volume soared 70%-proof, perhaps, that the post-IPO bravado is as strong as its order books. 📊🚀

Now operating in the U.S. (thanks to a shiny new BitLicense) and offering options trading, Bullish has positioned itself as the crypto equivalent of a Swiss Army knife. Or, as one might say, a bear with a business plan. Its hybrid order book and automated market maker aim to satisfy everyone from retail traders to institutional beasts. By 2027, Lau predicts recurring revenue will jump from 28% to 70%-a leap that feels less like progress and more like a magic trick. 🎩🐇

The stock’s recent 21% plunge? “Overdone,” says Lau, as if he’s just discovered the concept of gravity. Blame macroeconomic jitters and AI’s latest seductive whisper: “Forget crypto, darling.” But fear not! The blockchain’s fundamentals remain “strong,” per industry conferences like Money20/20, where surely someone still believes in the power of a QR code. 🧾✨

Bullish’s valuation, once a proud 45x forward EV/EBITDA, has now settled at 25x-right in line with Coinbase. A demotion? Perhaps. But with revenue growth forecasts of 25% annually through 2027 (outpacing Coinbase’s 14%), one might say Bullish is the scrappy underdog of the crypto world. Or, as Chekhov might put it: “The plot thickens.” 🕵️♂️

And what of the Clarity Act? Lau suggests the U.S. government’s return to work this week could breathe life into crypto regulation. A noble hope, though one wonders if Congress has mastered the difference between a “blockchain” and a “blockhead.” Risks abound: rising rates, cutthroat competition, and token prices that swing like a pendulum of madness. Yet here we are, chasing bulls and bears in a digital pasture. 🐆🐻

Bullish, the proud owner of CoinDesk, remains a study in contrasts. A company that’s both a Wall Street darling and a crypto pioneer, it dances between the realms of innovation and absurdity. All hail the new king of the crypto jungle. Or, as the wise man said: “Buy low, sell high, and never trust a bear in a suit.” 🎩💼

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2025-11-11 19:56