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Bernstein: The rise in demand for stablecoin allows Circle to withstand the impact of the Fed's interest rate cuts.
Odaily News Wall Street broker Bernstein stated that if U.S. interest rates fall significantly, Circle (CRCL) may see its revenue impacted, but strong demand for stablecoins and operational leverage could help mitigate the blow. Currently, the rating for Circle stock is outperform, with a target price of $230. The stock fell 2.3% in early trading, dropping to around $134.40. (CoinDesk)