Bernstein: USDC Supply Jumps $1.7B in Late August, Ending Six-Month Slide

AI Market Summary

Bernstein data indicates USDC supply rose about $1.7B in the final week of August, breaking a six-month stagnation/decline. A renewed stablecoin supply impulse can improve on-chain liquidity and transactional capacity across crypto markets. The report also notes a sharp rebound in Circle's equity following competitive concerns, reinforcing a near-term narrative of stabilizing market structure around regulated dollar stablecoins.

Impact level

● Medium

Affected assets

BTC/USDT+4.48%

AI Insight · BTC/USDTAI Insight

▲ Bullish

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Chaoxiang Research cited a Bernstein report dated August 24 showing USDC supply rose by about $1.7 billion in the final week of August, snapping a six-month stretch of flat-to-lower supply. Circle shares have rebounded 42% from a steep decline driven by worries about competition from OUSD. Bernstein reiterated its "Outperform" rating on Circle and kept a $140 price target, implying 59% upside from current levels.

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