On July 7, Circle Internet Corp. fell 5.19% in regular trading, trading at $65.885/share, with turnover of $247 million. The decline reflects persistent market anxiety over the competitive threat posed by the newly announced Open USD stablecoin project.
Open USD (OUSD), backed by over 140 institutions including Visa, Stripe, Mastercard, BlackRock, and Coinbase, is viewed as a direct challenge to Circle's flagship product USDC. The stablecoin market currently stands at approximately $300 billion in total capitalization, with USDC holding roughly 24% market share. Adding to the pressure, USDC has experienced $6.6 billion in outflows over the past quarter, the largest among all stablecoins. While some listed supporters have since clarified their level of involvement and Circle CEO Jeremy Allaire has emphasized USDC's deep moat in application integration, global liquidity, and regulatory compliance, the competitive overhang continues to suppress the stock following its initial 17.55% plunge when OUSD was first announced on June 30.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)