According to Chaoxiang Research and a Bernstein report dated August 24, USDC supply surged by approximately $1.7 billion in the final week of August, ending a six-month period of stagnant decline. Circle’s stock has rebounded 42% since its sharp drop triggered by concerns over competition from OUSD. Bernstein maintains an “Outperform” rating on Circle with a price target of $140, representing a 59% upside from the current stock price.
Bernstein Reports $1.7B Increase in USDC Supply in the Final Week of August
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Summary
Bernstein’s daily market report shows USDC supply increased by $1.7 billion in the final week of August, ending six months of decline. Circle’s stock has rebounded 42% from a low triggered by concerns over OUSD competition. Bernstein maintains an 'outperform' rating with a $140 price target, implying 59% upside potential. Altcoins to watch may gain momentum if stablecoin momentum continues.
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