Summary
- It was reported that Circle's market capitalization reached $33,617,000,000.
- The stock price rose about 387% compared to the listing price, drawing strong interest from investors.
- It was reported that expectations regarding the passage of the US 'GENIUS Act' contributed to the positive outlook for stablecoin issuers.
The market capitalization of dollar-backed stablecoin USD Coin (USDC) issuer Circle has approached $33.617 billion.
According to Investing.com on the 17th (local time), the previous day Circle closed the session at $151.06, up 13.10% from the previous day, raising its market cap to $33,617,000,000. This figure represents an increase of about 387% compared to the listing price of $31. The intraday peak price reached the $165 mark, reflecting high market interest.
Circle's share price increase is seen as reflecting expectations that stablecoin issuers will benefit following the passage of the GENIUS Act in the United States. Previously, Bernstein stated in a report, "If the act passes, stablecoins will evolve into internet payment infrastructure," and analyzed, "There is a high probability that non-financial listed companies will collaborate with stablecoin issuers."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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