Japanese investment bank Mizuho reiterated its neutral rating on Circle, saying OCC approval for a national trust bank doesn't address slowing USDC growth or rising competition.
- Mizuho said Circle's final OCC approval for a national trust bank is a positive step but doesn't address the company's core challenges.
- The bank pointed to USDC's declining market capitalization since March as a key concern.
- The report also warned that Open USD, a new consortium-backed stablecoin, could accelerate competition and pressure Circle's business.
- 1 Mizuho downgrades Circle to underperform, cuts price target to $50 on Open USD threat 15 minutes ago
- 2 Wikipedia blackout could hurt how AI engines like ChatGPT understand crypto 36 minutes ago
- 3 U.S., UK move to align rules for tokenized finance across world's largest financial markets 45 minutes ago
- 4 JPMorgan says Hyperliquid's rise threatens Circle's USDC economics 2 hours ago
- 5 Ethereum Foundation spinout EthSystems targets banks with blockchain privacy technology 2 hours ago
- 6 For pension funds, tokenization’s real play is balance-sheet management, Fidelity’s Lai says 3 hours ago
- 7 Hut 8 price target hiked to $165 at Benchmark as AI pivot reshapes valuation 4 hours ago
- 8 U.S. June CPI fell 0.4%, likely cooling move toward Fed rate hikes 4 hours ago
- 9 ECB picks firms including Deutsche Bank, Revolut for digital euro pilot 5 hours ago
- 10 Japan’s biggest card network taps Circle to bring stablecoins to 40 million merchants 5 hours ago
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters :
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Mizuho downgrades Circle to underperform, cuts price target to $50 on Open USD threat
JPMorgan says Hyperliquid's rise threatens Circle's USDC economics
Hut 8 price target hiked to $165 at Benchmark as AI pivot reshapes valuation
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