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Circle Surges 14% as Seaport Global Initiates Coverage with Buy Rating

Circle Surges 14% as Seaport Global Initiates Coverage with Buy Rating

Published:
2025-06-20 15:58:02
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Circle (CRCL) jumped 14% to $228 after Seaport Global analysts labeled the stablecoin issuer a "top-tier crypto disruptor" and set a $235 price target. The rally coincided with regulatory momentum from the Senate's passage of the GENIUS Act, which establishes a federal framework for dollar-pegged stablecoins.

Revenue-sharing arrangements with Coinbase on $61.2 billion in USDC reserves further bolstered sentiment, while Robinhood shares dipped 1.65%. Pre-market trading briefly pushed Circle above Seaport's target to $236 before settling at $228 at the opening bell.

Analyst Jeff Cantwell projects the $260 billion stablecoin market could expand to $2 trillion, emphasizing USDC's disruptive design from inception. The report highlights institutional confidence in Circle's regulatory-first approach amid growing crypto adoption.

|Square

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