Bernstein: Circle's growth outlook remains robust, unfazed by Hyperliquid stablecoin competition
Jinse Finance reported that Bernstein reiterated its $230 target price for Circle (CRCL), stating that USDC is expected to maintain its growth and will not be affected by the short-term impact of Hyperliquid stablecoins. Approximately 7.5% of USDC is used as collateral for Hyperliquid perpetual contracts, but Bernstein pointed out that it takes time to cultivate liquidity for new tokens. Circle CEO Jeremy Allaire stated that USDC will be deployed to HyperEVM. Analysts expect that the interest rate cut cycle and payment integration will drive demand for USDC, and its market share has now risen to 30%.
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