Hyperliquid plans to launch its own stablecoin, in a movement that could reduce decentralized exchange (DEX) Circle USDC dependence.
Despite these fears, the USDC supply has increased to $ 72.5 billion, with 25% ahead of 2025 estimates of the Wall Street Bernstein corridor. The firm had predicted that the Stablecoin supply would reach $ 74 billion for the end of the year.
The Stablecoin market share is “in a tear,” wrote analysts led by Gautam Chugani in a Tuesday report.
The market share in relation to Tether, a largest USDT of the world’s USDT, has also grown at 30%, compared to 28% in the second quarter, said the corridor.
The stable are cryptocurrencies whose value is linked to another asset, such as the US dollar or gold. They play an important role in cryptocurrency markets, providing, among other things, a payment infrastructure, and are also used to transfer money internationally.
The report indicated that $ 5.5 billion in USDC (about 7.5% of the supply) It is currently used as a hyperlichid guarantee. While the movement of the exchange introduces the competition, it will be a challenge to start sufficient liquidity for a new stable in the derivative markets where the reliability and the size of the execution are critical, the analysts wrote.
Bernstein said that after Genius law, the new Stablecoin participants are inevitable. However, the liquidity start for derivatives is not trivial.
Concerns about Circle’s exhibition to rates cuts (Since lower interest income could affect income) The general panorama is lost, according to Bernstein analysts, since the stablecoin issuer benefits from expanding the supply of the USDC.
Rate cuts could even support the feeling of risk in digital assets, which increases the demand for USDC and related performance strategies, the report added.
Bernstein has a higher performance rating in circle shares, with an objective price of $ 230. The action quoted 1.2% higher, around $ 116, at the time of publication.
Read more: Circle presents a Cap-1 blockchain arch, reports a loss of $ 428 million Q2
