Circle shares fell 18% on Tuesday after news of competing stablecoin Open USD, which is backed by Coinbase, Visa, and Mastercard. Clear Street analysts said the sell-off looked overdone without solid evidence that Open USD can gain traction. Circle shares later gained 3% but remained more than 75% below their 52-week high.
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Circle Shares Rebound After 18% Drop on Open USD Threat
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