最新报道：According to CoinDesk, Bernstein analysts reiterated their $230 price target for Circle (CRCL) shares on Monday, believing that the USDC stablecoin issuer will manage to maintain growth regardless of upcoming competition. The analysts specifically cited concerns surrounding the debate surrounding Hyperliquid and whether the eventual Hyperliquid stablecoin would have a significant impact on USDC. Hyperliquid recently announced an auction for the stablecoin code for its Layer 1 blockchain, HyperEVM. Some on social media have raised the possibility that Hyperliquid's launch of its own stablecoin could lead to a decrease in USDC activity on Hyperliquid's popular futures exchange. Bernstein analysts noted that nearly 7.5% of the total USDC supply is "held as collateral on Hyperliquid's perpetual futures platform." Stablecoin issuers Paxos, Frax Finance, and Agora, as well as a new group called Native Markets, have expressed interest in issuing Hyperliquid's upcoming USDH stablecoin, announced in a Discord post on Friday. Bernstein analysts acknowledged that the launch of Hyperliquid's stablecoin and others should create a more competitive environment, but the impact on Circle will not be immediate. "Booting liquidity for new stablecoins is not easy, especially for crypto capital markets products like futures, where position sizing and execution efficiency are critical," the analysts wrote in the report. "Hyperliquid may choose to collaborate with more stablecoin partners, including Paxos, to enhance the resilience of its platform, but building liquidity in its futures products is a gradual process." With some predicting the stablecoin market will grow into trillions of dollars, several companies, including World Liberty Financial, backed by Donald Trump, are trying to create more demand for their dollar-pegged tokens. Other banking giants, such as Bank of America, are also preparing to create their own stablecoins. On Sunday, Circle co-founder and CEO Jeremy Allaire—likely driven by the idea that Hyperliquid's stablecoin launch could undermine USDC—retweeted a July announcement announcing that USDC would be deployed on the HyperEVM. In a weekend post to X, Allaire stated, "Don't believe the hype. We will be entering the HYPE ecosystem in a significant way. We intend to be a major participant and contributor to the ecosystem." Bernstein analysts also expressed confidence in Circle's growth potential due to the potential for additional tailwinds. They stated, "With the start of the rate cut cycle, we expect the digital asset cycle to shift towards risk-on appetite, further driving USDC demand (and demand for on-chain USDC yields). Additionally, stablecoin demand from payments and financial services integrations remains in its early stages as Circle continues to develop its USDC financial ecosystem." In their Monday report, Bernstein analysts also stated, "USDC has gained market share relative to Tether (30% today vs. 28% in Q2)." Tether's USDT stablecoin is the world's largest stablecoin by supply.