受惠油價飆漲、聯準會（Fed）降息預期驟冷，美國穩定幣巨頭 Circle 股價近期漲勢凌厲，周二飆升近 8% 來到 103.71 美元，不僅刷新近 4 個月高點，更突破瑞穗證券（Mizuho）設定的 100 美元目標價。分析師指出，總體經濟環境的轉變正成為 Circle 估值的強大助燃劑。
瑞穗分析師 Dan Dolev 與 Alexander Jenkins 在研究報告中，將 Circle 的目標價從 90 美元上調至 100 美元，儘管仍維持「中立」評級，但對公司獲利前景表現出更積極的態度。
他們指出，近期中東地緣政治局勢緊張，帶動原油價格持續走高，5 個交易日內上漲 6%，今年以來累計漲幅更達 24%，若油價居高不下恐將加劇通膨壓力，繼而削弱聯準會在 2026 年啟動降息的可能性。
對 Circle 而言，利率的走向無疑是牽動獲利的「命脈」，倘若聯準會維持「更高、更久」的利率路徑，Circle 的核心營收 —— USDC 儲備資產所孳生的利息也就更豐厚。瑞穗分析師估算，降息預期消退將對 Circle 在 2026 年、 2027 年的營收僅帶來約 1% 提升，但對估值的正向影響可能更大。
根據芝商所（CME）的 FedWatch 工具，市場押注 2026 年「全年不降息」的機率，在短短一天內幾乎翻倍增長，分析師在報告中表示，這種「右尾風險」（Right-tail risk，指極端多頭或獲利事件發生的機率上升）的轉變，有望為 Circle 估值帶來更高的溢價空間。
儘管總體經濟利多頻傳，瑞穗仍提醒，穩定幣市場長期面臨競爭與商品化壓力，尤其在監管逐步明朗下，更多美元穩定幣發行方可能進場，利潤空間恐遭壓縮。
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Gerelateerde artikelen
Consensys, Joseph Lubin Contribute 30,000 ETH to DeFi United
Consensys and Ethereum co-founder Joseph Lubin have confirmed they will contribute 30,000 ETH to DeFi United, a coordinated relief effort addressing losses from the Kelp DAO exploit. According to Aave's Monday announcement, this represents one of the largest offerings in the ongoing initiative, whic
CryptoFrontier8u geleden
Circle Mints 500M USDC on Solana in Two Transactions
Gate News message, April 27 — Circle minted 500 million USDC on the Solana blockchain in two separate transactions of 250 million tokens each, according to on-chain data. The minting occurred within minutes of the report.
GateNews9u geleden
Banking Circle Launches Stablecoin Settlement Service with Luxembourg Regulatory Approval
Gate News message, April 27 — Banking Circle, a European payments processor, officially launched its stablecoin settlement service today. The company has obtained a Crypto Asset Service Provider (CASP) license from Luxembourg's financial regulator CSSF.
The new service enables instant two-way conve
GateNews14u geleden
Whale Deposits $2M USDC to HyperLiquid, Opens Leveraged Short Positions on Oil
Gate News message, a whale deposited $2 million USDC into HyperLiquid and opened short positions of 21,000 BRENTOIL and 19,000 CL with 3x leverage.
GateNews22u geleden
Spark Reports Q1 2026 Profit as Aave Faces $124M–$230M Attack
Spark protocol announced on its Q1 2026 financial report that it closed the first quarter in profit, reporting gross protocol returns of $31.5 million and a treasury of $46.1 million. The announcement comes as Spark has emerged as an unexpected beneficiary following a major security incident affecti
CryptoFrontier04-26 19:12
