Summary
- Bernstein said it assigned an Outperform rating to the stablecoin issuer Circle.
- It said the current USDC supply is $72.5 billion, about 25% above Bernstein's 2025 projection.
- Bernstein projected the USDC supply would reach $74 billion by year-end.
On the 8th (local time), according to crypto-focused media The Block, Wall Street securities firm Bernstein(Bernstein) gave the stablecoin issuer Circle(Circle) an Outperform rating and set a price target of $230.
Bernstein explained in the report that the USDC supply currently stands at $72.5 billion, which is about 25% higher than its 2025 estimate. It further projected the supply would reach $74 billion by the end of the year.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![[Market Update] Bitcoin slides to the $68,000 range… "Macro caution persists despite upbeat CPI"](https://media.bloomingbit.io/PROD/news/7c356c31-7d95-4f87-9e5b-bf3ebab9c6d6.webp?w=250)
![[Analysis] "XRP enters a pullback after failing to hold $1.62… focus on whether it can break above $1.51"](https://media.bloomingbit.io/PROD/news/43b35985-b585-4ba4-8af7-82ef19948262.webp?w=250)
![[Today’s key economic & crypto calendar] Japan’s preliminary Q4 GDP, etc.](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)