{"id":33370,"date":"2025-06-24T10:31:46","date_gmt":"2025-06-24T10:31:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=33370"},"modified":"2025-06-24T10:31:46","modified_gmt":"2025-06-24T10:31:46","slug":"circle-hits-66b-valuation-surpassing-usdc-supply","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=33370","title":{"rendered":"Circle Hits $66B Valuation, Surpassing USDC Supply"},"content":{"rendered":"
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Circle Internet Financial, the issuer of the second-largest stablecoin USDC, has achieved a market valuation of $66.9 billion, eclipsing the entire $61.3 billion circulating supply of its own dollar-pegged token.<\/p>\n

This rise, fueled by growing investor confidence following pivotal U.S. stablecoin legislation, has seen Circle inch closer to crypto exchange giant Coinbase\u2019s $78 billion market cap.<\/p>\n

CRCL Outpacing USDC<\/h2>\n

Data from Yahoo Finance shows<\/a> Circle (CRCL) went as high as $298.98 during Monday\u2019s session before closing at $263.45. This was still a nearly 10% improvement for the day and an 800% jump since its IPO<\/a> in early June. The peak pushed the company\u2019s market capitalization to just under $67 billion, overtaking the $61.3 billion supply of USDC currently in circulation.<\/p>\n

This milestone follows the U.S. Senate\u2019s decisive 68-30 vote<\/a> on June 17 to pass the GENIUS Act. Once signed into law, the legislation will mark the United States\u2019 first federal framework for dollar-pegged crypto assets.<\/p>\n

It will mandate full backing, regular audits, regulatory approval for issuers, and limits on algorithmic stablecoins while paving the way for banks, fintechs, and potentially major retailers to enter the market.<\/p>\n

Investor reaction was immediate, with CRCL shares surging over 80% last week alone. The momentum continued yesterday, amplified by news that fintech giant Fiserv plans to launch<\/a> its own price-stable digital asset (FIUSD) by year-end using Circle\u2019s infrastructure.<\/p>\n

Bubble Fears vs. Broader Stablecoin Boom<\/h2>\n

While Circle\u2019s valuation now places it within striking distance of Coinbase, the small matter of its trading at 216x net income with a P\/E ratio above 3,200 has a few talking heads worried about a possible bubble. They suggest that investors are possibly banking heavily on future profits rather than present fundamentals.<\/p>\n

However, the uptick has come at a time when the broader stablecoin market is experiencing growth. A recent Coinbase report revealed<\/a> that fiat-linked cryptocurrencies processed $27.6 trillion in 2024, beating Visa and Mastercard combined. The study also found strong interest from 81% of crypto-aware SMBs and tripled interest from Fortune 500 firms compared to 2024.<\/p>\n

Additionally, the latest data from DeFiLlama shows the sector\u2019s total market cap rose by $5.671 billion in the last 30 days to push past $251 billion. Ethereum was the primary growth engine, contributing more than $3.6 billion of the new supply.<\/p>\n

Meanwhile, Tether\u2019s USDT is the most dominant stablecoin, with its $156 billion circulating supply making up 62% of the market. USDC\u2019s $61.3 billion market cap gives it a 24% stake, solidifying its second-place position in the space.<\/p>\n

The post Circle Hits $66B Valuation, Surpassing USDC Supply<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Circle Internet Financial, the issuer of the second-largest stablecoin USDC, has achieved a market valuation of $66.9 billion, eclipsing the entire $61.3 billion circulating supply of its own dollar-pegged token. This rise, fueled by growing investor confidence following pivotal U.S. stablecoin legislation, has seen Circle inch closer to crypto exchange giant Coinbase\u2019s $78 billion market […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-33370","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33370"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33370\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}