TechFlow, June 30 — According to Cointelegraph, JPMorgan has initiated coverage on stablecoin issuer Circle (CRCL) with a "Underweight" rating, setting a target price of $80 by December 2026, representing a 55% decline from the current price of $180.
Analysts believe that although Circle holds a first-mover advantage in the stablecoin market, competition remains a potential threat. JPMorgan expects Circle's market capitalization to reach approximately $21 billion by the end of 2026, significantly lower than the current $43.8 billion. Analysts also noted that regulatory requirements for stablecoins, increased capital requirements, and the development of central bank digital currencies could limit USDC's growth and Circle's global expansion.
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