Circle Stock Surges 31% to New All-Time High Amid Stablecoin Optimism

Circle's stock (CRCL) soared 31% to $195.40, extending its post-IPO rally to 450% since its June 5 debut. The stablecoin issuer's shares have defied market gravity, climbing from an IPO price of $31 to a $46.76 billion valuation in under three weeks.

Regulatory tailwinds are fueling the frenzy. The anticipated Stablecoin GENIUS Act, a bipartisan bill poised for Senate approval, could streamline oversight for dollar-pegged cryptocurrencies. Bernstein analyst Gautam Chhugani notes the legislation may catalyze institutional adoption.

Trading volumes suggest both retail and professional investors are piling in. Friday's 25% gain preceded today's 13% surge to $151.14, with intraday peaks touching $195.79. The parabolic MOVE reflects growing confidence in blockchain infrastructure plays.