Bernstein Sees 60% Upside for Circle Internet Group as Stablecoin Demand Grows

Analysts at Bernstein have reiterated their price target of $140 for Circle Internet Group (NYSE: CRCL) stock, predicting a 60% upside from its current price. In a recent note, they maintained an Outperform rating, citing the company's growth potential in stablecoin payments and blockchain-based capital markets.

The analysts pointed to the USDC stablecoin adding approximately $1.7 billion to its supply over the past week after nearly six months of staying flat. They noted that Circle holds around 80% of decentralized exchange trading and finance volumes, with its Agent Stack now home to more than 900 paid services since its launch in May.

According to Bernstein, adjusted stablecoin transaction volume, excluding bots and high-frequency activity, hit nearly $11 trillion during 2025 and is growing at an annualized rate of roughly $17 trillion through July 2026. The growth rate is 60% higher than a year earlier.