Circle shares closed down 17.55% on Tuesday due to Open USD competition, analysts say concerns are ‘overblown’

2026-07-01 by admin

PANews July 1 news, according to The Block, Circle’s stock price closed at $62.63 on June 30, a single-day drop of 17.55%. Previously, Open Standard announced the launch of the stablecoin Open USD, supported by more than 140 companies including Visa, Stripe, Mastercard, BlackRock, and Coinbase, sparking investor concerns about competitive pressure on USDC.

William Blair analysts believe market concerns about competition are overstated, reiterating an Outperform rating on Circle, calling the sell-off a buying opportunity, saying competition in the stablecoin market is “inevitable” and validates the sector’s potential, but Circle’s $74 billion market cap size and first-mover advantage are hard to replicate, and Open USD is a “solution looking for a problem.” Circle CEO Jeremy Allaire responded that USDC remains “the world’s most trusted and most widely adopted institutional-grade stablecoin,” and the company will continue to expand its ecosystem and welcome innovation and competition.

深潮 TechFlow 消息，6 月 30 日，据 CoinMarketCap 数据，今日加密货币市值前 100 代币表现如下：涨幅前五：MemeCore（M）涨 19.52%，现价 0.6745 美元；Lighter（LIT）涨 13.82%，现价 1.96 美元；Kaspa（KAS）涨 8.76%，现价 0.03042 美元；Pyth Network（PYTH）涨 8.04%，现价 0.03971 美元；DeXe（DEXE）涨 6.99%，现价 23.16 美元。跌幅前五：Ethena（ENA）跌 12.64%，现价 0.07058 美元；Celestia（TIA）跌 8.99%，现价 0.3651 美元；Uniswap（UNI）跌 6.65%，现价 2.77 美元；Aave（AAVE）跌 5.58%，现价 85.36 美元；Velvet（VELVET）跌 5.06%，现价 1.59 美元。

PANews July 1 news, according to The Block, Circle's stock price closed at $62.63 on June 30, a single-day drop of 17.55%. Previously, Open Standard announced the launch of the stablecoin Open USD, supported by more than 140 companies including Visa, Stripe, Mastercard, BlackRock, and Coinbase, sparking investor concerns about competitive pressure on USDC. William Blair analysts believe market concerns about competition are overstated, reiterating an Outperform rating on Circle, calling the sell-off a buying opportunity, saying competition in the stablecoin market is "inevitable" and validates the sector's potential, but Circle's $74 billion market cap size and first-mover advantage are hard to replicate, and Open USD is a "solution looking for a problem." Circle CEO Jeremy Allaire responded that USDC remains "the world's most trusted and most widely adopted institutional-grade stablecoin," and the company will continue to expand its ecosystem and welcome innovation and competition.

PANews, July 1 – According to The Block, the U.S. Securities and Exchange Commission (SEC) on Tuesday sought public comment on regulatory rules for "new-type ETFs," exploring whether the existing registration process needs to be adjusted, with a 60-day comment period. SEC Chair Paul Atkins said the move aims to hear public feedback to assess how to respond to recent market changes. Jaret Seiberg, managing director at TD Cowen’s Washington Research Group, expects this comment solicitation could lead to rule changes by 2027, allowing a broader range of ETF types, including event contracts, crypto assets, and single-stock strategy ETFs. Since Atkins took office in April 2025, the SEC has approved dozens of ETFs tracking crypto assets such as SOL and DOGE, far exceeding the previous scope limited to Bitcoin and Ethereum. The focus has now shifted to prediction market ETFs tied to political and economic outcomes. The SEC has not yet approved such products and has postponed multiple proposals. Atkins said last month that he would consider such products in a "transparent and prudent manner."