According to reports, Circle has long positioned USDC as a compliant alternative to USDT. Tether's launch of USAT directly challenges USDC's market position, which is closely tied to the top US cryptocurrency exchange, Coinbase. Mizuho Securities senior analyst Dan Dolev believes that the launch of USAT is a disadvantage for Circle. He stated, "This proves that the commoditization of USDC is higher than people initially thought. This is precisely why we remain cautious about Circle." Previously, Mizuho analysts had indicated that Circle's USDC growth might be slower than expected. However, before the launch of USAT, Bernstein analysts held the opposite view, believing that Circle would continue to grow regardless of competition. Circle has not commented on this yet. #币圈趣事分享 #RWA赛道，你押谁 #GUSD双重收益