Bernstein raised its Circle price target to $191 from $111, implying ~70% upside. Analysts point to AI as a potential catalyst, with Circle positioning USDC as infrastructure for “agentic commerce.” Other highlights: • Stablecoin volume hit $55T in 2025 (+98% YoY) • Adjusted volume $11T (+91%) • Consumer-to-business payments +131% • USDC supply rebounded to ~$78B Bernstein’s view: stablecoins are evolving into global digital dollar infrastructure, with adoption holding up regardless of crypto market cycles. Source: theblock(Frank Chaparro)