Analyst firm Bernstein has cut the price target for Circle's USDC stablecoin from $190 to $140. This adjustment comes as Bernstein retains its Outperform rating on the asset. The decision is partly based on Bernstein's assessment that the threat posed by Open USD, a competing stablecoin, will diminish in significance.
Source
"Bernstein Cuts Circle Price Target Amid Open USD Threat" — The Block
This article is Bitcoincryptos' summary and analysis of reporting originally published by The Block. Read the full original report at the link above.
USDC supply remains near all-time highs, which could mitigate the impact of Open USD on Circle's market share.
