According to Coindesk, Citigroup lowered the target price of Gemini (GEMI), a cryptocurrency exchange with a neutral rating, from $26 to $23; at the same time, it raised its expectations for Bullish, which has a buy rating, and raised the target price of the company's stock from $70 to $77.

The bank's analysts said that despite strong credit card sign-ups and app downloads, trading volumes in October were lower than expected, suggesting that growth for the Gemini exchange will take longer. Bullish's approval of a New York BitLicense and expanded institutional access indicate strong momentum.