JPMorgan's Circle Enhancement Reflects Institutional Confidence in Stablecoin Prospects
- JPMorgan upgrades Circle to "overweight" with $100 target, citing Q3 revenue surge and USDC's 66% YoY reserve growth. - Circle's USDC now dominates $73.7B market share, outpacing USDT through VISA/Deutsche Börse partnerships and regulatory clarity. - Arc testnet and CPN's 29 institutional clients highlight Circle's push to integrate stablecoins into mainstream finance. - Analysts remain divided: Bernstein forecasts 2027 USDC tripled supply, while Tiger Securities raises $140 target despite margin pressur
JPMorgan Chase & Co. has revised its outlook on
The company's forward-looking strategies further enhance its long-term outlook. In October, Circle introduced its Arc public testnet, drawing over 100 participants from both traditional finance and crypto industries. This Layer 1 blockchain, built for programmable finance, is being considered for a native token to encourage ecosystem expansion. Furthermore, the Circle Payments Network (CPN) has
Analyst opinions are still varied but show growing optimism. Monness, Crespi, Hardt began coverage with a "Buy" recommendation and a $150 price target,
The market environment remains intricate. Although Circle's adjusted EBITDA climbed 78% to $166 million in the third quarter,
The stablecoin sector as a whole is also undergoing changes, with
As Circle deals with short-term market swings and lockup expirations,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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