Analysts remain split on Circle amid rising competition

Circle’s new bank charter is a massive distraction from a grim reality: USDC is shrinking. With a $7 billion supply drop since March and the rise of Open USD—backed by giants like Mastercard and Coinbase—Circle is facing a commoditization crisis that a charter can't fix. Analysts are already slashing price targets by nearly 30%, signaling that the IPO hype is dead. Is Circle’s dominance officially over, or is Wall Street missing the bigger picture? What’s your take?
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