Bernstein Forecasts New USDC Growth Cycle, Sets Circle Price Target at $140

cryptonews.ruPublicado a 2026-08-24Actualizado a 2026-08-24

Resumen

Analysts at Bernstein are optimistic about stablecoin issuer Circle, predicting a new growth cycle for its USDC token that could significantly benefit the company over the next 12 months. They cite a recent $2 billion increase in USDC's supply, ending a six-month period of stagnation, and maintain an Outperform rating for Circle's stock (CRCL) with a $140 price target, implying roughly 60% upside. Factors expected to drive the next stablecoin growth phase include renewed crypto market momentum, clearer US regulation, tokenized capital markets, and increasing use of stablecoins for payments, including by AI agents. While USDC remains the second-largest dollar-backed stablecoin by market cap behind Tether's USDT, it has strengthened its position in transaction volume. Bernstein data shows USDC's share of adjusted stablecoin transaction volume has grown from about 40% in 2025 to over 60% since early 2026, surpassing USDT. Since its IPO in June 2025, Circle's stock has been volatile. After an initial surge, it fell back near its $31 IPO price by late 2025 due to a broader crypto downturn. In its latest quarter, Circle reported revenue of $701 million and net income of $48 million, both up year-over-year.

Analysts at Bernstein are positive on stablecoin issuer Circle, believing that a new growth cycle for $USDC could significantly support the company over the next 12 months.

In a research note published on Monday, Bernstein analysts stated that $USDC is showing signs of a "digital dollar reflation" — as the firm termed the process. Over seven days, the supply of $USDC grew by approximately $2 billion, ending a six-month period of stagnation or slowing growth. Bernstein maintained its Outperform rating for Circle (CRCL) and a $140 price target, implying roughly 60% upside from current levels. Over the past month, Circle shares have risen by about 40%.

According to Bernstein's assessment, the next phase of stablecoin growth could be supported by several factors: renewed momentum in crypto markets, increased regulatory clarity in the US, tokenized capital markets, and the growing use of stablecoins for payments. The analysts also pointed to early signs of AI-powered agents using stablecoins for payments.

$USDC remains the second-largest USD-backed stablecoin by market capitalization and lags significantly behind Tether's USDT. However, it has significantly strengthened its position in terms of transactional activity volume. According to Bernstein, $USDC's share of adjusted stablecoin transaction volume has grown from about 40% in 2025 to over 60% since the beginning of 2026. By this metric, $USDC has overtaken USDT.

Stablecoin transaction volume has increased significantly this year. Source: Bernstein

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Circle's Volatile Path Since IPO

Since the company went public in June 2025, Circle's stock has been highly volatile. The stablecoin issuer set its share price at $31 and raised approximately $1.1 billion in its initial public offering. After a sharp rally in the first months of trading, the stock returned to roughly the IPO price by November 2025, as a broader downturn in the crypto market weighed on public companies in the sector.

In the last quarter, Circle reported revenue of $701 million and net income of $48 million — both figures increased compared to the previous year.

Related Material: Western Union Moves Stablecoin Remittances to Visa Network via Stablecard

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Preguntas relacionadas

QWhat is Bernstein's outlook for Circle and its stablecoin USDC according to the article?

ABernstein analysts are positive on Circle, forecasting a new growth cycle for USDC over the next 12 months. They maintain an Outperform rating for Circle (CRCL) with a price target of $140, implying roughly 60% upside from current levels.

QWhat factors does Bernstein suggest could support the next phase of stablecoin growth?

AAccording to Bernstein, the next phase could be supported by a resumption of momentum in crypto markets, increased regulatory clarity in the US, tokenized capital markets, and the growing use of stablecoins for payments, including early signs of use by AI-powered agents.

QHow has USDC's share of stablecoin transaction volume changed recently?

ABernstein reports that USDC's share of adjusted stablecoin transaction volume has increased from around 40% in 2025 to over 60% since the beginning of 2026. By this metric, USDC has overtaken Tether's USDT.

QWhat was the performance of Circle's stock since its IPO according to the text?

ASince its IPO in June 2025 at $31 per share, Circle's stock has been volatile. It rallied initially but fell back to near its IPO price by November 2025 due to a broader crypto market downturn. Over the past month, the stock has gained approximately 40%.

QWhat key financial figures did Circle report in its latest quarter?

AIn its latest quarter, Circle reported revenue of $701 million and net income of $48 million. Both figures showed growth compared to the previous year.

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