Analysts Outline Risks to Circle from Slower USDC Growth and Higher Distribution Costs

Description

Shares of Circle Internet Group (NASDAQ: CRCL) faced a pull back following the release of its latest quarterly results, despite the company reporting substantial growth in key metrics. Over the past year, the supply of USD Coin (USDC) in circulation expanded to $61.3 billion, marking a 90% increase. Revenue, including income from reserves, rose 53% year-over-year to reach $658 million. However, according to equity analysts at Mizuho Securities, investor sentiment toward the stock has cooled. The...