Circle's (CRCL) strong trading volumes noted by Mizuho as it raises price target
Mizuho raised Circle's price target to $120 from $100 after USDC transaction volumes surpassed USDT for the first time since 2019.Summary
Japanese investment bank Mizuho increased its price target for Circle (CRCL) from $100 to $120, maintaining a neutral rating, following Circle’s USDC surpassing Tether’s USDT in transaction volumes for the first time since 2019. This shift is significant as analysts believe real economic usage, rather than market capitalization, will determine the long-term winner in the stablecoin market. USDC recorded approximately $2.2 trillion in adjusted transaction volume in 2026, compared to $1.3 trillion for USDT, giving it a 64% share. Mizuho forecasts 11.7 million “meaningful wallets” by 2027 and a USDC market capitalization of $139 billion. While some attribute the stock’s recent gains to factors like oil prices, others point to USDC’s resilience and increasing investor recognition of Circle’s economic model.
(Source：CoinDesk)