Circle stock price drops nearly 10%, dragged down by analyst downgrades and Drift Protocol investigation

MeNews · 2026-04-10T02:03:18+00:00

Circle's stock price dropped 9.9% due to a downgrade, and over the past month and six months, it has fallen a total of 24% and 43%, respectively. Although analysts say market concerns are overblown, the security incident at Drift Protocol has affected crypto market sentiment, and Circle has not yet frozen funds transferred due to the attack.

MeNews

2026-04-10 02:03:18

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ME News Report, April 10 (UTC+8), the stablecoin issuer Circle’s stock price fell 9.9% on Thursday, closing at $85.10. Previously, Compass Point downgraded its rating from Neutral to Sell, with a target price cut to $77. The stock has declined nearly 24% over the past month and approximately 43% over the past six months. Bernstein analysts believe market concerns are exaggerated, and Circle’s core business remains unaffected, with USDC usage and reserve income still strong. Additionally, the legal scrutiny resulting from the Drift Protocol security breach has also put pressure on crypto market sentiment. Affected investors are encouraged to contact law firm Gibbs Mura for potential claims. Drift attackers transferred stolen funds to USDC, sparking discussions on whether Circle should freeze the funds, but Circle took no action. (Source: PANews)

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