Gemini stock is currently positioned for a significant boost, with analysts predicting a potential rise of up to 25%. This growth is driven by the increasing popularity of its crypto rewards card and the strategic acquisition of a European Union license.
After its public debut last month, Gemini Space Station (GEMI) shares are trading around $25. Mizuho Securities has set a target price of $30, implying substantial medium-term growth linked to enhanced user conversion and revenue.
Gemini’s Crypto Rewards Card: A Game Changer
The Gemini Credit Card has emerged as a pivotal growth catalyst. The card’s user base has expanded from 8,000 in 2024 to nearly 31,000 by August 2025. This card offers users the chance to earn bitcoin, ether, or other tokens as cashback on daily purchases, with rewards instantly deposited into their exchange accounts.
According to Mizuho analysts Dan Dolev and Alexander Jenkins, the card generates a “flywheel effect.” Approximately half of the cardholders become regular exchange traders, a conversion rate that significantly boosts trading volumes and recurring user engagement.
European Expansion with MiCA License
International market expansion forms the second pillar of Gemini’s growth strategy. In August, the company secured a license under the European Union’s Markets in Crypto-Assets (MiCA) framework. This enables Gemini to expand its offerings to include staking, derivatives, and other regulated products across Europe.
As the IPO research blackout lifted, coverage on GEMI increased, with 11 analysts initiating coverage: six with buy ratings and five with hold recommendations. The average price target suggests a 25% upside, outperforming competitors like Robinhood, Coinbase, and Blockchain.com, whose targets remain below current levels.
Despite this optimism, KBW maintains a more cautious outlook, noting that while Gemini’s growth potential exceeds its peers, the company is still projected to face profitability challenges throughout the forecast period.
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