Circle Stock Doubles in a Month on Rates, USDC New Peak
Key Insights
- Circle stock surged more than 100% in the past month as higher interest rates boost earnings from USDC reserves.
- CRCL stock price gapped up after a strong breakout, but seems to be coming back now.
- USDC supply hit a record $81.1 billion. In the past week, 2.5 billion USDC were minted on Solana, driving the surge.
Crypto stocks are booming following the slight resurgence in the crypto market as the new week starts. Circle [CRCL] is leading this lot as it continues to profit from earnings gained in its stablecoin business.
CRCL stock looks bullish when viewed from different angles. These angles include profitability from stablecoin revenue, the technical outlook of the shares, and others. Will the stock sustain the current uptrend as the price breaks out of a falling wedge pattern?
Circle Stock Surges 100%+ in a Month: What’s Driving the Stock?
Circle stock continues to outperform other crypto stocks on Wall Street, alongside Coinbase, with its recent surge driven by earnings. According to Coin Bureau on X, CRCL stock rallied more than 100% in a month, driven by its USDC stablecoin reserves.
Fees from the increasing use of USDC in tokenized assets, particularly on the Solana (SOL) blockchain, drove these earnings. Additionally, stablecoin rails like USDC have increased in usage amid the integration of AI agent payments across most platforms.
As per DefiLlama data, the Circle protocol accumulated more than $6.87 million in revenue over the past 24 hours. The charts show a steady long-term uptrend in this metric. Its highest daily peak since July 2022 stood at $8.19 million.
This peak was achieved on December 16, 2025. That meant its revenue had dropped from the peak hit last year. However, it was growing from the lows seen in early February this year.
Circle stock earnings data | Source: DefiLlama
This gain in price action, which was boosted by the earnings, was reflected on the technical charts. The stock was breaking above key levels, but how high can CRCL rally?
CRCL Stock Price Gaps, but Here’s Why You Need to Wait
CRCL surged on the daily chart, breaking above its descending trendline. The price gapped higher to reach a daily peak of $127. Usually, when assets gap, prices tend to revert to their mean values, and in this case, the 8 and 21-day EMA.
This phenomenon explained why traders needed to wait at least for the price to revert near the support levels. Interestingly, the stock had broken above a descending wedge pattern that had formed over the past four days. This put the $145 zone in sight for the crypto stock.
Circle stock price action chart | Source: TradingView
While the Circle stock was rising, its trading volume was declining, showing a clear divergence. Such a bearish trend divergence signal hinted that the current rally in CRCL stock could be short-lived.
However, if the stock remained above the $91 zone, CRCL would stay bullish in the short term. Otherwise, it would mean a reversal to the 116% price rally, taking into account the move that started on February 25th.
Therefore, what was in the detail of Circle’s stablecoin business?
How USDC is Pushing CRCL Stock Price
Getting into the nitty-gritty of USDC, the total supply reached a new peak of $81.1 billion. That’s only second to Tether’s USDT. The supply has been rising consistently since mid-2023. At that time, its capitalization was below $25 billion, as per Artemis data.
USDC supply by chain data | Source: Artemis
The continuous issuance of the USDC stablecoin has driven this growth. Over the past seven days, about $2.5 billion USDC was minted on Solana.
However, it’s still the Ethereum blockchain that leads by total share. Over the past 24 hours, the Circle protocol issued another $250 million USDC on SOL.
As a result, the rolling supply issued over the past 30 days was equivalent to $8.01 billion USDC. This indicated there was demand for the stablecoin, driving revenue generation, which in turn pushed CRCL stock prices.
The post Circle Stock Doubles in a Month on Rates, USDC New Peak appeared first on The Market Periodical.
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