Circle Stock Soars 35% as USDC Expansion and Reserve Income Drive Record Earnings
Circle Internet Group's shares surged 35.5% to $83.14 after quarterly earnings significantly exceeded estimates, driven by a 72% increase in USDC circulation and $770 million in revenue. The stablecoin issuer's reserve income reached $733 million, marking 77% year-over-year growth as cryptocurrency markets rebounded.
Market Optimism aligned with technical momentum, highlighting demand for dollar-pegged assets and Circle's expansion into blockchain payment partnerships. Adjusted EBITDA hit $133 million, though potential interest rate cuts and increased regulatory oversight present future uncertainties.
'Stablecoins are becoming the foundational infrastructure of digital finance,' noted one trader, pointing to Circle's strategic expansion beyond treasury management into AI-powered settlement solutions.
