Bernstein: Growing demand for stablecoins enables Circle to withstand the impact of Fed rate cuts
According to ChainCatcher, Wall Street broker Bernstein stated that if US interest rates drop significantly, Circle (CRCL)'s revenue could take a hit. However, strong demand for stablecoins and operating leverage may help mitigate the impact. Currently, Bernstein rates Circle stock as Outperform with a target price of $230. The stock fell 2.3% in early trading, dropping to around $134.4.
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.
You may also like
Data: 86,800 SOL transferred to a certain exchange, worth approximately $11.95 million
In the past 7 days, only 5 public blockchains had fee revenues exceeding $1 million.
Data: If ETH falls below $2,882, the total long liquidation volume on major CEXs will reach $962 millions.
Musk: Grok is open-source software, anyone can use it for free
Trending news
MoreCrypto prices
More
