Bernstein sees new USDC growth cycle

• Bernstein kept its US$140 price target for Circle as USDC supply grew by about US$2 billion.
• Circle shares had risen about 40% over the past month, according to Cointelegraph.
• Bernstein said USDC growth could continue without passage of the US CLARITY Act.

Circle Internet Group could benefit from renewed USDC growth, according to Bernstein, which kept its US$140 price target.

USDC (CRYPTO:USDC) supply rose by roughly US$2 billion in seven days after six months of limited growth.

Bernstein said USDC is showing signs of what it calls “digital dollar reflation” as supply expands again.

The firm said growth could come from crypto markets, US regulation, tokenised capital markets and stablecoin payments.

Bernstein said USDC’s share of adjusted stablecoin transaction volume rose from about 40% in 2025 to above 60% in 2026.

Circle shares had risen about 40% over the past month, while the company reported US$701 million in quarterly revenue.

Bernstein said Circle’s growth cycle could continue even if the US CLARITY Act does not pass.