CRCL stock declined 1.97% to $55.05 on February 4th, continuing its weekly slide amid broader market weakness and intensifying competition in the stablecoin sector.
- Morgan Stanley initiated coverage on February 2nd, assigning an 'Equalweight' rating.
- The firm cited that limited upside exists without greater regulatory clarity and wider stablecoin adoption.
- The downward pressure is exacerbated by intensifying competition from products like Tether’s USAT and Fidelity’s FIDD.