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JPMorgan Spooks Crypto Markets: Circle’s ’Uncomfortable’ Valuation Earns Rare ’Underweight’ Rating
JPMorgan Spooks Crypto Markets: Circle’s ’Uncomfortable’ Valuation Earns Rare ’Underweight’ Rating
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Wall Street's crypto cold war escalates as JPMorgan draws a line in the sand—Circle's stablecoin dominance isn't enough to justify its 'nosebleed' valuation.
The banking giant's analysts delivered a brutal assessment: 'Current pricing defies fundamental logic.' Their solution? A merciless 'underweight' rating that could trigger domino-effect downgrades across the sector.
Meanwhile, crypto natives scoff at traditional finance's latest attempt to apply 20th-century metrics to decentralized ecosystems. 'They said Bitcoin was overvalued at $100 too,' quipped one hedge fund manager while adjusting his laser-eyed NFT profile picture.
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