Circle Internet Group Inc.
(NYSE:CRCL) stock continued its downward momentum on Monday, extending losses from Friday as crypto market weakness, regulatory uncertainty and analyst target forecast weighed on sentiment ahead of the company's upcoming financial report.
Regulatory Uncertainty Slows Momentum Crypto-linked assets faced pressure as investors reacted to declining expectations for legislative progress.
In a Wednesday report cited by CoinDesk, JPMorgan analysts led by Nikolaos Panigirtzoglou pegged the probability of the CLARITY Act passing this Congressional session at 37%.
"The longer the approval of the Clarity Act is postponed, the greater the threat to crypto markets from the growth of tokenization and blockchain-based applications eventually being absorbed by incumbent market infrastructure rather than accruing to public crypto networks," the analysts wrote.
