Bernstein: Circle Growth Prospects Solid, Not Afraid of Hyperliquid Stablecoin Competition
2025-09-08 20:32:26
Bernstein reiterated his $230 price target for Circle (CRCL), saying USDC is expected to maintain growth and not be hit by the Hyperliquid stablecoin in the short term. About 7.5% of USDC is used as collateral for Hyperliquid perpetual contracts, but Bernstein pointed out that it will take time for the new currency to cultivate liquidity. Circle CEO Jeremy Allaire said USDC will be deployed to HyperEVM. Analysts expect the rate cut cycle and payment consolidation to drive demand for USDC, which has now risen to 30% of the market.
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