Recently, the stock price performance of crypto assets infrastructure provider Bakkt Holdings has attracted market attention, soaring 170% in just two weeks, with a single-day rise reaching 17%, breaking the $30 mark. This astonishing surge is driven by multiple favourable information factors.

Investment bank Benchmark has given a high affirmation of Bakkt's prospects, raising its target stock price to $40, which is double the previous target. Analyst Mark Palmer pointed out that Bakkt shows tremendous growth potential in areas such as crypto assets infrastructure, stablecoin payments, and Bitcoin custody, which is the main basis for the target price increase.

Bakkt's internal operations are also showing positive signals. The company's cryptocurrency-related revenue exceeded $568 million in the second quarter, demonstrating strong business growth. Additionally, the company recently sold its loyalty business unit for $11 million, aiming to allow the firm to focus more on its core services and optimize resource allocation.

It is worth noting that Bakkt has submitted a plan to the U.S. Securities and Exchange Commission (SEC) to raise up to $1 billion, which is likely to be used to expand its Bitcoin custody business. This move indicates the company's optimistic attitude towards the long-term development of the Crypto Assets market and its proactive layout for the future.

Despite the significant rise in Bakkt's stock price, analysts believe its valuation remains relatively "cheap" compared to peers like Coinbase. The strategic initiatives of the new CEO, Akshay Naheta, have been recognized by the market, and the capital allocation expertise brought in by Mike Alfred, who recently joined the board, has also injected new momentum into the company's future development.

As the Crypto Assets market gradually warms up, Bakkt's importance as an industry infrastructure provider is increasingly prominent. Investors' confidence in the company's future development prospects, as well as its continuous innovation in key business areas, have jointly driven the strong performance of its stock price. However, considering the volatility of the Crypto Assets market, investors should remain cautious when focusing on this hot sector and closely monitor changes in industry policies and market trends.