Circle's USDC Market Share 'On a Tear,' Says Wall Street Broker Bernstein
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最新报道：Hyperliquid plans to launch its own stablecoin, potentially reducing its reliance on Circle's USDC. Despite concerns, USDC supply has surged to $72.5 billion, exceeding Bernstein's 2025 estimates by 25%. USDC's market share relative to Tether has grown to 30%, up from 28% last quarter. While $5.5 billion of USDC is collateralized on Hyperliquid, Bernstein notes challenges in bootstrapping liquidity for new stablecoins in derivatives markets. The firm maintains an outperform rating on Circle with a $230 target, citing benefits from expanding USDC supply and potential risk-on sentiment from rate cuts.
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