Circle has been having a tough time lately.
Being questioned by the market about its valuation on one side,
and being removed from the Russell Growth Index on the other,
so short-term pressure on the share price isn’t surprising.
But many people confuse Circle with USDC—these are actually two different things.
The stablecoin space is big enough that it’s unlikely there will be only one winner.
Once, USDT dominated on its own; now, USDC has grown into an important participant in the stablecoin market. In the future, if another strong competitor emerges, it may not be a matter of one replacing the other—it’s more likely the market will further segment.
The fiercer the competition, the more it can actually drive the development of the entire industry.
As for Circle, what the market is trading more right now is valuation—not USDC’s fundamentals.
There’s also an interesting phenomenon:
Everyone is talking about USDC getting a new competitor,
but very few people ask:
Who is USDT’s competitor? 😂
Maybe the real industry leader is already so strong that everyone just assumes it has always been there.
#USDC #Circle #稳定币 #Crypto