It’s said that Circle minted 5 billion USDC this week, bringing the total circulating supply to $73 billion. But even so, the $CRCL price is still stuck around 90, with four consecutive bearish candles on the daily chart. In the community, some people say, “The rebound is borrowed.”
And there are also rumors that Binance wallets have listed the bStocks DeFi hub—CRCLB can provide LP and take out loans by pledging USDC. There’s even news that a bank in the UAE has included USDC in local offerings. The CEO claimed that stablecoins only truly made it onto the internet in 2002.
If all these reports are true, why isn’t the price moving? My take is: the market is willing to treat Circle like a money-printing machine, but it doesn’t believe it can turn the printed money into profits. When the USDC scale grows, Circle’s revenue still depends on interest; the larger the scale gets, the more it may not necessarily mean more profit.
Worth debating: with CRCLB’s new play, is it meant to attract fresh money—or to add leverage for old long holders?
And there are also rumors that Binance wallets have listed the bStocks DeFi hub—CRCLB can provide LP and take out loans by pledging USDC. There’s even news that a bank in the UAE has included USDC in local offerings. The CEO claimed that stablecoins only truly made it onto the internet in 2002.
If all these reports are true, why isn’t the price moving? My take is: the market is willing to treat Circle like a money-printing machine, but it doesn’t believe it can turn the printed money into profits. When the USDC scale grows, Circle’s revenue still depends on interest; the larger the scale gets, the more it may not necessarily mean more profit.
Worth debating: with CRCLB’s new play, is it meant to attract fresh money—or to add leverage for old long holders?