Circle’s Valuation Surpasses $62.9 Billion Amid Increased Trading Volume
Circle Internet Group (NASDAQ: CRCL) has gained significant attention, with a market valuation exceeding $62.9 billion after its trading volume briefly surpassed Nvidia's.
$62.9B Valuation and Market Dynamics
- Circle's shares increased by over 11% on Monday, following an 80% surge last week due to the Senate approving the GENIUS Act, promoting stablecoin regulation.
- Current USDC supply is around $61 billion, positioning Circle’s market cap above its own stablecoin supply.
- Trading activity ranked second only to Tesla.
Circle’s market cap ($62.9B) is now higher than all outstanding USDC (~$61B) pic.twitter.com/6LiSRMCvhc
— Garrett Skrovina (@GSkrovina) June 23, 2025
Market Confidence and Developments
- Fiserv announced plans to launch the FIUSD stablecoin using infrastructure from Paxos and Circle.
- Cathie Wood of ARK Invest sold some CRCL holdings but the stock continued to rise, indicating strong market confidence.
- CRCL traded at $264.14, up over 800% since its June 5 debut at $31.
Price Dynamics and Potential Breakouts
CRCL is testing support at $264, aiming for a breakout around $300. If it loses trendline support, the next downside level could be $238.
Emerging Solutions in Crypto Infrastructure
Solaxy, the first Layer 2 built on Solana, has raised over $58 million, offering high-speed scalability and staking rewards of 70%, attracting interest in regulated crypto infrastructure.
