Gate News report, April 13, investment bank William Blair said that after a certain CEX’s stock price fell about 26% from its peak in Q1, it has essentially completed risk clearing. The market’s expectations for weak trading volume and revenue have already been fully reflected in the stock price. Analysts noted that although Q1 trading data was weak, its impact on market sentiment was limited, and the exchange is strengthening its competitiveness by building an all-in-one trading platform through derivatives, staking, stock trading, prediction markets, and more. The report emphasized that the continued growth of the stablecoin USDC is a key positive catalyst. Its market share has risen to about 27%, up clearly from roughly 21% in 2024, and it continues to take share from USDT. William Blair believes that USDC’s expansion creates synergistic benefits for the exchange and for its issuer, Circle, and it is optimistic about the latter’s long-term value in stablecoin payment and trading scenarios. At the same time, the firm considers the probability of a long-term malaise in the crypto market to be low, and it believes that the exchange has “asymmetric upside potential” as the market recovers.
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