Things keep getting spicier for Circle (CRCL) stock.
Following the Senate’s landmark stablecoin vote a couple of days ago, the crypto sphere is still buzzing with momentum.
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After years of regulatory uncertainty, the vote effectively flips the lights on.
With clearer guidelines, banks and big-money players can finally step off the sidelines and offer a smooth path to mainstream adoption.
Circle stock keeps hogging the spotlight, and with USDC, the second-largest stablecoin, its breakout may be just beginning.
Circle Internet stock is skyrocketing after Congress passes stablecoin legislation.
Senate vote lights fire under Circle stock
A couple of days ago, Circle Internet and its crypto peers skyrocketed after the Senate passed the GENIUS Act in a decisive 68-30 vote.
The legislation provides regulatory clarity, which has eluded the crypto world for years.
Related: Circle stock goes parabolic after Capitol Hill surprise
The legislation offers a clear federal framework for stablecoins, including guidelines around reserves, audits, and consumer protections.
It’s important to note that it isn’t a done deal yet.
The bill must still pass the House and reach President Trump’s desk before the August recess.
Nevertheless, the development was huge for Circle stock, as investors welcomed the end of the Wild West era in digital finance.
Moreover, just one day before the Senate win, CEO Jeremy Allaire lit the fuse under Circle stock with his bold “iPhone moment” take.
He argued stablecoins could potentially shift from purely a fintech accessory to a financial infrastructure.
To put things in perspective, that’s the kind of leap that made mobile apps explode.
Picture instant Uber payments or real-time gaming rewards without banks in the middle.
That’s the future Allaire envisions with Circle, and with a major regulatory hurdle now cleared, it could arrive sooner rather than later.
Also, with USDC, the No. 2 stablecoin with a $61 billion market cap, Circle looks ready to lead this wave.
More Circle Internet Stock News:
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Circle stock gains more ground
Circle stock is riding high again this morning, with shares popping north of 16% in pre-market trading to a fresh high of $232.
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For the past week, the stock is up a dizzying 70%.
It’s wild to see how far Circles’s come, and it’s barely been a few weeks.
The stock went public at $31 a share on June 4 and since then has jumped an eye-popping 650%. That’s turning a $1,000 investment on day one into about $7,500.
Following the recent wave of positive developments, the analyst community is starting to warm up to Circle’s surge.
Seaport Global just put Circle Internet Group on its buy list, with a $235 target. At roughly 15 times projected 2026 enterprise-value-to-sales, Seaport argues that lofty valuation is fully justified.
Moreover, with clear regulatory tailwinds in sight, Seaport analysts deem Circle as a “top-tier crypto disruptor,” largely due to USDC’s role in the booming stablecoin space.
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