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USDC Faces Mounting Pressure as Analyst’s Paradoxical Upgrade Highlights Stablecoin Struggles

USDC Faces Mounting Pressure as Analyst’s Paradoxical Upgrade Highlights Stablecoin Struggles

Author:

Global Cryptocurrency

Published:

2026-01-30 09:26:42

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USDC News -

Compass Point's Ed Engel upgraded Circle (CRCL) from Sell to Neutral while simultaneously cutting his price target from $75 to $60. This contradictory MOVE underscores the mounting pressure on USDC as bank-backed stablecoins loom and DeFi competitors erode its market dominance.

USDC's 9% supply contraction since December reveals vulnerability to Solana-based alternatives like USDH and PYUSD. The stablecoin now exhibits a 0.66 correlation with ether—a troubling metric for what should be a dollar-pegged asset.

JPMorgan and BNY Mellon's impending "deposit coins" threaten Circle's institutional foothold. With over 75% of USDC circulating in volatile crypto markets rather than traditional finance, the company remains hostage to sector-wide turbulence.

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