Bernstein gives Circle an "outperform" rating with a price target of $230

PANews June 30 news, according to The Block, analysts at research brokerage firm Bernstein gave Circle an "outperform" rating with a target price of $230. The report said that Circle is building a leading digital dollar stablecoin network, with regulatory, first-mover liquidity and distribution partner advantages. CRCL is a must-hold stock for investors to participate in the new Internet-level financial system in the next decade. Analysts expect the total supply of stablecoins to increase from about $244 billion to $4 trillion in the next decade, driven by "transformative growth" in areas such as cryptocurrencies. The report said that according to the GENIUS Act passed by the U.S. Senate, USDC issued by Circle will become the largest regulated stablecoin, gaining a "regulatory first-mover advantage" and becoming the preferred partner of Internet platforms. Circle has $61.4 billion in liquidity, which is difficult for new entrants to replicate. However, Bernstein predicts that Circle will occupy 30% of the market share in the future, slightly higher than the current 25%.

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