Gate News reports that on March 11, Bernstein analysts maintained their “Outperform” rating on USDC issuer Circle, with a target price of $190, representing approximately 60% upside from the current $120 level. The report states that stablecoins are increasingly decoupling from crypto market cycles; despite the bear market, USDC supply has rebounded to nearly $78 billion, close to a record high, with the total market cap of USD stablecoins remaining around $270 billion. Adjusted stablecoin trading volume has grown over 90% year-over-year, with increased trading turnover, indicating that stablecoins are being used more and more outside of crypto trading. Payment adoption is the main driver, with stablecoins gradually integrating into traditional card networks. Visa now supports over 130 stablecoin-linked cards across more than 50 countries, with an annualized settlement volume of approximately $4.6 billion. AI-driven “agent finance” could become a new growth theme, where machine-to-machine small payments between autonomous software agents will require stablecoins as a natural payment medium.
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