Investment bank Bernstein maintains its "Outperform" rating on Circle Internet Group (CRCL) with a target price of $190, implying approximately 44% upside potential from Circle's Monday close of $131.76. Bernstein analysts stated that Circle's Q1 adjusted EBITDA was $151 million, about 10% higher than market expectations. The report shows that USDC's supply in the first quarter reached $77 billion, a 28% year-over-year increase; Circle Payments Network's annualized transaction volume approached $10 billion, with 136 financial institutions connected as of May 7. (The Block)

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