Total crypto market cap is expected to reach $7.5 trillion by 2025 from $2.6 trillion today, the report said.

The bank lifted its rating on the stock after bitcoin hit record highs and the crypto exchange’s trading volume reached levels not seen since 2021.

Higher crypto prices will have a positive effect on the exchange’s revenue, the analysts said.

Analyst Own Lau noted higher trading volume, the recent approval of the spot bitcoin ETFs, and a potential win in the company’s lawsuit against the