Circle互联网集团（CRCL）今日盘中大涨5.03%，引起了市场的广泛关注。此次上涨发生在该股前一日因竞争对手推出新稳定币而暴跌超过17%之后。
消息面上，Circle首席执行官杰里米·阿莱尔亲自撰文回应了由Visa、万事达等超过140家机构支持的Open USD（OUSD）稳定币带来的挑战。阿莱尔从网络效应、流动性和监管合规三个层面阐述了USDC的护城河，强调稳定币市场具有赢家通吃的特性，而Circle经过近十年建立的生态和全球流动性网络难以被快速复制。
与此同时，William Blair等分析师发布报告力挺Circle，认为市场对竞争风险的担忧反应过度。分析师指出，在规模巨大的稳定币市场中，新竞争者的出现实际上证明了该商业模式的可行性，而Circle凭借其先发优势、强大的流动性和支付网络基础设施（CPN），仍将保持领先地位。此外，Ark Invest在股价暴跌之际再次抄底买入逾32万美元CRCL股票，也显示了部分机构投资者对Circle长期价值的信心。
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