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Morgan Stanley Dumps on Circle: USDC Supply Growth Slows, Tokenized Funds Gain Ground

Guavy AI Editorial Team
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USDC
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Morgan Stanley's downgrade of Circle to underweight has raised concerns about USDC's competitive position in the stablecoin market.

The bank cut its price target for Circle from $106 to $38, citing tokenized money market funds and shrinking USDC supply as key factors.

USDC's circulating supply has fallen by 10% since May, with tokenized money market funds from BlackRock and others replacing stablecoin balances.

The new products offer daily dividend reinvestment, making them more attractive to holders than traditional stablecoins.

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