CRCL Sell-Off 'Looks Overdone' Say Analysts as Circle CEO Addresses Open USD Threat
Key takeaways
- "While OUSD has strong partners similar to other leading stablecoins, without any solid evidence that OUSD can get real traction, the selloff looks overdone," analysts wrote in a Wednesday note.
- Ahead of OUSD's launch later this year, analysts believe the narrative threat may remain.
- "While the narrative will linger, CRCL has maintained strong market shares even though new stablecoins continuously arise," they wrote.
CRCL Sell-Off 'Looks Overdone' Say Analysts as Circle CEO Addresses Open USD Threat Logan Hitchcock Thu, July 2, 2026 at 12:42 AM GMT+7 2 min read CRCL USDC-USD USDG33793-USD COIN V Shares in USDC stablecoin issuer Circle (CRCL) fell 18% on Tuesday amid news of a competing stablecoin launch, Open USD, from global partners like Coinbase, Visa, and Mastercard—but analysts at Clear Street think the market move was an overreaction from investors.
"While OUSD has strong partners similar to other leading stablecoins, without any solid evidence that OUSD can get real traction, the selloff looks overdone," analysts wrote in a Wednesday note.
Ahead of OUSD's launch later this year, analysts believe the narrative threat may remain. But Circle's USDC stablecoin has maintained its staying power in the face of other stablecoin launches.