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Circle Gets Street-Low Target as Stablecoin Competition Heats Up
Circle Internet Group Inc. shares have lost over 75% of their value since their IPO last year as more stablecoins enter the market. An analyst warns the situation could worsen.
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Adjacent reporting
- Mizuho downgrades Circle to underperform, cuts price target to $50 on Open USD threat
- Wall Street turns cautious on Circle as analysts warn USDC economics face mounting pressure
- Bakkt pivots into stablecoin infrastructure as revenue tumbles 77% in Q1
- Non-dollar stablecoins are struggling to crack 0.5% of market share
- The stablecoin market has got too stable