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Bernstein: Growing demand for stablecoins enables Circle to withstand the impact of Fed rate cuts
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According to ChainCatcher, Wall Street broker Bernstein stated that if US interest rates drop significantly, Circle (CRCL)'s revenue could take a hit. However, strong demand for stablecoins and operating leverage may help mitigate the impact. Currently, Bernstein rates Circle stock as Outperform with a target price of $230. The stock fell 2.3% in early trading, dropping to around $134.4.
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