Latest news with #EURC
Yahoo
17 hours ago
- Business
- Yahoo
Market Cap of Euro Stablecoins Surges to Nearly $500M as EUR/USD Rivals Bitcoin's H1 Gains
The Euro-U.S. dollar exchange (EUR/USD), the world's most liquid foreign exchange pair, has surged 12.88% in the first half, outperforming Nasdaq and S&P 500 and nearly rivaling bitcoin BTC 14.8% rise, according to data source TradingView. The strength of the euro has increased the appeal of stablecoins with values pegged to the euro. The cumulative market cap of 21 euro-pegged stablecoins tracked by data source Coingecko has increased 44% from $310 million to $480 million. Leading the growth is the U.S.-listed Circle's EURC stablecoin, whose market cap has increased by 138% to $200.36 million. "One of my best trades this year was to move my entire stablecoin stack from USDC/USDT into a Euro-denominated stablecoin like EURC. Up 13% in dollar value in less than 5 months," Legendary, the pseudonymous host of The Modern Market Show, announced on X. While the demand for euro-pegged stablecoins has increased, their combined market cap remains less than 1% of that of dollar-pegged stablecoins, which boast a cumulative market value of $254.88 billion. EUR/USD has risen from 1.0354 to nearly 1.17, hitting the highest since September 2021. The upswing is characterized by a breakdown in the correlation between the exchange rate and the differential between the Fed and ECB interest rates, as well as a broad-based shift away from the US dollar. The 90-day correlation coefficient between EUR/USD and bitcoin has recently jumped to 0.62, the highest since February 2024, indicating a moderate positive correlation between the two. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Business
- Yahoo
CoinDesk Weekly Recap: Stablecoins Dominate the Cycle
With the near-passage of the GENIUS Act and a host of companies announcing stablecoin initiatives, stablecoin-related assets have been on a tear. Circle, issuer of USDC, has seen its stock rise about 500% since its debut on June 5. This week, the company was valued at a staggering $77 billion, which is well above the total market cap of USDC itself (about $62 billion). Bullish signals for stablecoins were all around: CRCL is now the most popular foreign stock in South Korea. The leading stablecoin issuer, Tether, has so much spare cash it can afford to have a determinative stake in Juventus, an Italian soccer which actually makes more money from USDC than Circle, has seen its stock rise to its highest level in four years. Even Euro-backed stablecoins, long a forgotten cousin of USD coins, are surging. Combined, they're up 44% on the year, led by Circle's EURC. Stablecoins are the "quiet winners" from prediction markets like Polymarket. And so on. Traditional payment giants, like Mastercard and Visa, have been responding to stablecoin mania by making a flood of announcements of their own. Mastercard announced new tie-ups with Moonpay, Chainlink and Kraken this week. Amid all the stablecoin news, we still had space for plenty of other topics. SEI surged as well (albeit on stablecoin news). The Federal Reserve officially said crypto no longer carried 'reputational risks' for banks, leaving them to provide all the financial services they want for crypto companies. World Liberty Financial, the Trump family vehicle, reversed a promise to make its token non-transferable. In the summer months, sometimes it can feel like nothing much is happening. Not this year; crypto doesn't wait for anyone.
Yahoo
2 days ago
- Business
- Yahoo
Circle Is Up About 700% Since Its IPO. Should You Still Buy the Stock at a Monster Valuation?
Circle is the stablecoin issuer of USDC, one of the largest digital assets in the world. Circle's IPO in early June was met with booming success from the market. Stablecoins are a major source of innovation in the payments space. 10 stocks we like better than Circle Internet Group › Since going public on June 5, it's been pedal to the metal for the stablecoin issuer Circle (NYSE: CRCL), which has seen it's stock absolutely explode in just a few short weeks. The company priced shares at $31 per share, or a roughly $6.8 billion valuation. However, once hitting the open market, shares of Circle jumped to $69 and at one point topped $103 per share. As of June 24, shares of Circle had jumped to $248 or a nearly $56 billion market cap, up 700%. After such an incredible run, can you still buy the stock? Circle is the issuer of the stablecoin USDC (CRYPTO: USDC), which is the seventh largest digital asset with a $62 billion market cap. Stablecoins are digital assets pegged to a currency or commodity; USDC is pegged 1-for-1 to the U.S. dollar. Circle also has other products, like EURC, a stablecoin pegged 1-to-1 to the euro. The idea of stablecoins is to take advantage of the ingenious technology behind the blockchain while removing the volatility typically associated with cryptocurrencies. Using digital assets, people are able to transfer money seamlessly to anyone with internet access, even if they don't have a bank account. This makes stablecoins very useful for cross-border payments and for potentially helping the underbanked population. Circle supports wireless transactions for minting and redeeming USDC in more than 185 different countries. The company's business model and strategy are fairly straightforward. Circle wants to increase the popularity of USDC and EURC and the general use of stablecoins. It plans to partner with financial institutions to provide as many on-and-off ramps as possible, where people can easily transfer between fiat currencies and stablecoins. Recently, Circle took a big step in that direction by announcing a strategic partnership with Fiserv, one of the major players providing core processing capabilities for thousands of banks all over the world. The partnership aims "to jointly explore and develop stablecoin-enabled solutions for financial institutions and merchants within the Fiserv ecosystem." Circle makes money through the dollar reserves it holds for each stablecoin, on which it earns a yield. The yield it earns has historically been a small discount to the Secured Overnight Financing Rate (SOFR), or the rate at which banks lend very short term to each other. The company will increase revenue is by increasing reserves, which grow through more use of its stablecoins. Circle's revenue exploded from $772 million in 2022 to roughly $1.45 billion in 2023. In 2024, revenue grew at a slower rate to $1.68 billion. Circle generated nearly $156 million in profit in 2024. In the first quarter of 2025, Circle reported close to $579 million of revenue and a profit of nearly $65 million. Recently, Circle received good news when the U.S. Senate passed a bill that would establish a formal regulatory framework for stablecoins. In the world of digital assets, anything that can provide regulatory clarity tends to be viewed positively. Furthermore, Seaport Global analyst Jeff Cantwell also initiated coverage on Circle and assigned the stock a buy rating. "On the back of an improving regulatory climate, we expect adoption globally of stablecoins such as USDC, Circle's flagship product, grows rapidly from here -- we see the stablecoin 'market cap' potentially reaching $2T over the longer-term, from roughly $260B today," Cantwell wrote. He expects the total stablecoin market to reach $500 billion and that Circle's revenue can grow 25% to 30% per year. I find stablecoins to be intriguing. They seem to be growing in popularity, and Circle's partnership with Fiserv could open up the door to thousands of new financial institutions. However, the company's problem is that it now trades at a monster valuation. If you annualize Circle's first-quarter numbers, that means the stock currently trades at roughly 215 times Circle's 2025 earnings and 24 times 2025 revenue. Investors should be aware that it could take time for traditional banks to adopt any kind of stablecoin product. Traditional banks are conservative, and instant payments still present challenges, like how to deal with fraud. Furthermore, if the Federal Reserve lowers interest rates, it could cut into Circle's revenue because SOFR is influenced by interest rates. In the fourth quarter of 2024, Circle's rate on its reserves was about 4.5%, but that rate was as low as 0.14% in the first quarter of 2022. Stablecoins may very well be the future, but Circle's huge run means investors are already assuming enormous growth in the stablecoin market. If this turns out not to be the case or competitors take market share from USDC, Circle's stock could take a hit. At this valuation, I'm not ready to buy just yet. I recommend interested investors practice dollar-cost averaging, which will smooth out their cost basis over time. Before you buy stock in Circle Internet Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Circle Internet Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $689,813!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $906,556!* Now, it's worth noting Stock Advisor's total average return is 809% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Circle Is Up About 700% Since Its IPO. Should You Still Buy the Stock at a Monster Valuation? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Circle stock price today: CRCL shares rise again after Senate passes stablecoin bill. Here's the latest
The share price of crypto and fintech company Circle Internet Group (NYSE: CRCL) is rising yet again today in early market trading. Those security codes you ask to receive via text leave your accounts vulnerable. Do this instead Buyer's or seller's housing market? Zillow's new rating for 250 major markets How one company is revolutionizing the way we use everyday water After the stock jumped over 33% on Wednesday (markets were closed for Juneteenth on Thursday), shares in the newly publicly traded company were up as high as another 15% in premarket trading this morning. And you can thank the U.S. Senate for that. Here's what you need to know. Circle Internet Group, better known as Circle, is a fintech company that offers a range of financial products. Circle was founded in 2013 as a Bitcoin payments processor. The company currently offers a range of fintech developer services, including digital wallets and blockchain transfer solutions. However, Circle is best known for its two stablecoins, USDC and EURC. Stablecoins are a type of cryptocurrency that is much less vulnerable to wild price swings because a stablecoin's price is tied directly to a real-world asset. In the case of the USDC stablecoin, its value is tied directly to the U.S. dollar. Circle's EURC stablecoin is tied to the value of the Euro. Stablecoins thus help provide investors with stability while still allowing them to invest in crypto assets. In terms of market cap, USDC is currently the seventh most valuable cryptocurrency with a value of over $61 billion. The most valuable stablecoin in terms of market capitalization is Tether, which has a total valuation exceeding $155 billion. Cryptocurrency king Bitcoin's market cap is currently north of $2.1 trillion. In March 2024, Fast Company named Circle as one of its Most Innovative Companies based on the impact its stablecoin was having on the crypto industry. Shares in Circle Internet Group were at one point trading over 15% higher in premarket trading this morning. Some of those gains were lost when the markets opened, but currently, CRCL stock is still up over 12% in early market trading. That follows an impressive 33% rise in the stock's price on Wednesday. So why is Circle popping today? Well, you can thank the U.S. Senate. The congressional body passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) on Tuesday. The act is the first to seek regulation of stablecoins. Its passage would establish a regulatory framework for stablecoins, further legitimizing the digital tokens and integrating them more closely within the U.S. economy. Such a move would likely only benefit stablecoin providers, like Circle. The GENIUS Act would also benefit stablecoin investors because it would require that stablecoins be backed by liquid assets, including U.S. dollars or short-term Treasury bills, notes Reuters. Issuers of stablecoins would also be required to disclose their reserves' composition on a monthly basis, leading to greater transparency. However, while Circle investors continue to cheer the Senate's passage of the GENIUS Act on Tuesday, the act may still not become law. That's because it now must go to the House for approval. And as Reuters notes, various groups, including the Conference of State Bank Supervisors, are calling for 'critical changes' to the bill. If the bill stalls in the House, or is killed, CRCL stock may give back some of the gains it has made this week. But as of today, Circle's stock price run has been nothing short of impressive. Circle Internet Group's initial public offering (IPO) was held just over two weeks ago on June 5. Since then, the price of CRCL stock has surged a staggering 589%. The IPO price of CRCL was $31 per share. As of the time of this writing, CRCL shares are trading at over $225 per share. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fast Company
20-06-2025
- Business
- Fast Company
Circle stock price today: CRCL shares rise again after Senate passes stablecoin bill. Here's the latest
The share price of crypto and fintech company Circle Internet Group (NYSE: CRCL) is rising yet again today in early market trading. After the stock jumped over 33% on Wednesday (markets were closed for Juneteenth on Thursday), shares in the newly publicly traded company were up as high as another 15% in premarket trading this morning. And you can thank the U.S. Senate for that. Here's what you need to know. What is Circle? Circle Internet Group, better known as Circle, is a fintech company that offers a range of financial products. Circle was founded in 2013 as a Bitcoin payments processor. The company currently offers a range of fintech developer services, including digital wallets and blockchain transfer solutions. However, Circle is best known for its two stablecoins, USDC and EURC. Stablecoins are a type of cryptocurrency that is much less vulnerable to wild price swings because a stablecoin's price is tied directly to a real-world asset. In the case of the USDC stablecoin, its value is tied directly to the U.S. dollar. Circle's EURC stablecoin is tied to the value of the Euro. Stablecoins thus help provide investors with stability while still allowing them to invest in crypto assets. In terms of market cap, USDC is currently the seventh most valuable cryptocurrency with a value of over $61 billion. The most valuable stablecoin in terms of market capitalization is Tether, which has a total valuation exceeding $155 billion. Cryptocurrency king Bitcoin's market cap is currently north of $2.1 trillion. In March 2024, Fast Company named Circle as one of its Most Innovative Companies based on the impact its stablecoin was having on the crypto industry. Why is CRCL stock rising today? Shares in Circle Internet Group were at one point trading over 15% higher in premarket trading this morning. Some of those gains were lost when the markets opened, but currently, CRCL stock is still up over 12% in early market trading. That follows an impressive 33% rise in the stock's price on Wednesday. So why is Circle popping today? Well, you can thank the U.S. Senate. The congressional body passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) on Tuesday. The act is the first to seek regulation of stablecoins. Its passage would establish a regulatory framework for stablecoins, further legitimizing the digital tokens and integrating them more closely within the U.S. economy. Such a move would likely only benefit stablecoin providers, like Circle. The GENIUS Act would also benefit stablecoin investors because it would require that stablecoins be backed by liquid assets, including U.S. dollars or short-term Treasury bills, notes Reuters. Issuers of stablecoins would also be required to disclose their reserves' composition on a monthly basis, leading to greater transparency. Circle stock price may depend on House now However, while Circle investors continue to cheer the Senate's passage of the GENIUS Act on Tuesday, the act may still not become law. That's because it now must go to the House for approval. And as Reuters notes, various groups, including the Conference of State Bank Supervisors, are calling for 'critical changes' to the bill. If the bill stalls in the House, or is killed, CRCL stock may give back some of the gains it has made this week. But as of today, Circle's stock price run has been nothing short of impressive. Circle Internet Group's initial public offering (IPO) was held just over two weeks ago on June 5. Since then, the price of CRCL stock has surged a staggering 589%.
