TechFlow news, September 15 — According to The Block, Mega Matrix analysts pointed out that the launch of USAT is leading the stablecoin market toward a tri-polar structure: USDT will serve as the global retail stablecoin anchor, while USDC and USAT will form a U.S.-compliant stablecoin track, and other stablecoins such as USDe, Sky, and USDH will be more oriented toward yield generation.
Mizuho Securities analyst Dan Dolev stated that USAT will be the biggest challenge to USDC, which is highly unfavorable for Circle. This further proves that USDC's commoditization in the market is higher than previously expected, and its growth rate is likely to fall short of projections. As a result, he maintains a cautious stance on Circle, assigning it an "underperform" rating with a target price of $84.
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