Bernstein: The growing demand for stablecoins allows Circle to withstand the impact of the Federal Reserve's interest rate cuts

ChainCatcher news, Wall Street broker Bernstein stated that if U.S. interest rates decline significantly, Circle (CRCL) may see its revenue impacted, but strong demand for stablecoins and operational leverage could help mitigate the blow. The current rating for Circle stock is outperform, with a target price of $230. The stock fell 2.3% in early trading, dropping to around $134.4.