Circle's 50% Rebound: A Data Point Without a Thesis
A 50% rebound from an August low. For most assets, that single line would be enough to trigger a cascade of commentary, a flood of technical analysis, and a chorus of 'I told you so' from the bull camp. But when the asset in question is Circle, the issuer of USDC, the first question we have to ask is not 'why is it going up?' but rather, 'what exactly are we even measuring?'
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