USDC Stablecoin Issing Company Circle (CRCL) stock continues its upward streak, already accumulating a 700% rise since its debut on Wall Street on June 5th.
Thanks to this yield, CRCL has reached a market capitalization of $63,000 million. Overcoming the total amount of USDC in circulationcurrently 610 million.
It is important to note that market capitalization reflects the total value of a company based on the price of the stock. This is obtained by multiplying the total number of actions in circulation by the current value of the action.
As reported by Cryptootics, CRCL has performed fantastically since its debut day on the New York Stock Exchange (NYSE) Compared to IPO prices, action closed with a 168% increasemarks the beginning of the rally that continues to this day. At the time of publication of this memo, the price is $263.
Behind the prominent performance of CRCL is the combination of factors that have encouraged happiness among investors. One of them is the perception created by Circle as a US-based company. It adheres to current regulatory frameworks.
Another point to keep in mind is that Coinbase, the largest exchange in the US, maintains significant participation in companies that strengthen their trust in the market.
Nor should we lose sight of the fact that Donald Trump’s administration promotes a favorable regulatory framework for digital assets. In fact, the CRCL action was known as Genius Law in the Senate on June 18th, after the Senate approved the National Innovation Orientation and the establishment of Stubcoin. It is trying to regulate the issuance of a stable currency in that country. The vote has now been passed to the House of Representatives.
Apart from good performance, some experts warn that the price of CRCL is overvalued. For example, the investment and analysis company “Asian Investors” stated: “We believe Euphoria is overloaded, given that the company added another 20% on Friday following news of approval of the genius law by the US Senate.
So analysts believe it is Good sales points for revenue And don’t be exposed to the possibility of changing market sentiment.
