智通财经网·2025-06-25 22:19Group 1 - Circle's stock price experienced a significant decline of 10.79% on Wednesday, closing at $198.62, marking a total drop of 24.6% over two days [1] - The recent surge in Circle's stock was attributed to a partnership announcement with fintech company Fiserv and the passage of a stablecoin regulatory bill by the U.S. Senate, which raised market expectations for compliant stablecoins like USDC [1][2] - Coinbase's stock, in contrast, rose by 15.5% over two days, closing at $355.37, just 0.6% below its all-time high from 2021, indicating strong market performance [1][2] Group 2 - Circle's USDC is one of the leading stablecoins, and Coinbase, as its primary distribution partner, benefits significantly from USDC operations, receiving over $9.08 billion in payments from Circle in 2024, which constitutes more than half of Circle's projected $17 billion revenue for the year [2] - Analysts suggest that both Circle and Coinbase could benefit from clearer stablecoin regulations, but Coinbase's revenue model appears to have greater diversification potential [2] - Citizens analyst Devin Ryan set a target price of $400 for Coinbase, indicating a potential upside of 12.6% from current levels, citing the formation of multiple new revenue streams for the company [3]