Circle Internet Group shares slide 16.3% to $63.57 as Open USD launch raises pressure on USDC
AI Market Summary
Open Standard's Open USD launch, backed by 140+ firms including Visa, Mastercard, Stripe, Shopify and Coinbase, increases competitive pressure on Circle's USDC and its reserve-driven revenue model. The market is discounting potential enterprise adoption and share erosion as Open USD offers fee-free mint/redemption and shared reserve earnings. CRCL fell sharply to a new year-to-date low amid deteriorating technicals, while USDC supply has already declined from recent highs.
Impact level
● Medium
Affected assets
NCSKCRCL2USD/USDT-16.49%
AI Insight · NCSKCRCL2USD/USDTAI Insight
▼ Bearish
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Open USD officially launched on Tuesday, backed by more than 140 companies including Visa, Mastercard, Stripe, Shopify and Coinbase, and it says it offers zero-fee minting and redemptions along with shared reserve earnings. The debut has heightened concerns it could erode Circle’s USDC market share and put pressure on Circle’s business model. Circle Internet Group shares fell 16.3% to $63.57, marking a year-to-date low and forming a technical “death cross.” USDC’s market capitalization has declined to $73.7 billion from a year-to-date high of $80 billion.
