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JPMorgan: Circle's USDC Stablecoin Could Benefit Most from GENIUS Act
Summary: According to reports, JPMorgan analysts released a report on Tuesday stating that since the signing of the GENIUS Act on July 18, the market value of stablecoins has increased by 19%, with Circle's USDC appearing to be the biggest beneficiary. After experiencing a stagnation earlier this year, its market value surged in the third quarter, ...
According to reports, JPMorgan analysts released a report on Tuesday stating that since the signing of the GENIUS Act on July 18, the market value of stablecoins has increased by 19%, with Circle's USDC appearing to be the biggest beneficiary. After experiencing a stagnation earlier this year, its market value surged in the third quarter, rising from $61.5 billion at the end of June to $73.7 billion at the end of September, capturing 25.5% of the stablecoin market. It is expected to rise by about 400 basis points by 2025, with Tether's dominant position declining from 67.5% at the beginning of the year to 60.4%. Analysts suggest that the GENIUS Act may further favor Circle. (CoinDesk)
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Link: JPMorgan: Circle's USDC Stablecoin Could Benefit Most from GENIUS Act [Copy]
