Mizuho has reduced its price target for Gemini from $26 to $12, citing weak trading performance as a key factor. Analysts Dan Dolev and Andrew Jenkins highlighted that declining cryptocurrency prices and reduced trading volumes are expected to hinder Gemini's short-term revenue growth. Despite growth in its credit card business, it is insufficient to counterbalance the trading downturn.The report also indicates a shift in Gemini's revenue mix, with service-based income nearing half of total revenue. Additionally, the compression of exchange valuation multiples has contributed to the revised target. Previously, Gemini's stock hit a low of $5.50 before a slight recovery.