Circle's stock received an analyst rating upgrade for the second time in a week, with Compass Point analyst Ed Engel upgrading the rating from "sell" to "neutral," but he maintained a minimum price target of $60. Engel, who now sees Circle's trading as more of an alternative to cyclical cryptocurrencies than an independent fintech, points to USDC's high correlation with Ethereum and its widespread use in high-risk crypto activities. He mentioned risks such as declining USDC supply, competition from new stablecoins and traditional bank deposit tokens, and potential higher fees. Catalysts for the rally include the regulatory clarity that the CLARITY Act may bring and the growth of tokenized assets.