Sep. 13 at 2:40 PM
$CRCL I think Hyperliquid and other stable coins that share interest with their customers will take the entire market share. USDC changing to this model will significantly collapse its current profit models because it already shares with COINBASE and others. Circle is the dumbest place to store money as it gets you 0 return and your interest is taken for their profits. First to market is not always the clear winner in the long run.
Crypto exchange *Hyperliquid* is planning to launch **USDH**, a competing stablecoin.
Unlike Circle, Hyperliquid is offering *yield-sharing incentives* to attract users — effectively redistributing reserve income back to token holders.
Analysts estimate this incentive program could *strip as much as \
$100 million from Circle’s gross profit* if even a modest share of USDC liquidity migrates.
This model attacks Circle’s core value proposition by **turning what Circle keeps as profit into customer yield**, creating direct competitive pressure.
