On August 19, Circle Internet Corp. rose 5.72% in regular trading, trading at $76.675/share, with turnover of $229 million. The rally was driven by accelerating expansion of the global stablecoin ecosystem.
On the news front, latest data showed XRPL native stablecoin supply surged 195.4% month-over-month, RLUSD supply jumped 257% MoM, and stablecoin transfer volume climbed 207.5% MoM to approximately $10 billion. As the issuer of USDC, Circle stands as a direct beneficiary of stablecoin market growth. Bitwise research head previously stated that the stablecoin market could expand from roughly $300 billion to $3-5 trillion, with Circle holding a first-mover advantage through its existing market share. Additionally, ARK Invest recently purchased over $20 million worth of CRCL shares, and the company reported Q2 EPS of $0.18, beating the $0.16 consensus estimate, with revenue of $701.3 million rising 7% year-over-year.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)