TLDR
- Circle stock surged 16 percent in one day to reach a new all-time high of $176.
- The rally followed the US Senate’s passage of the GENIUS Act with strong bipartisan support.
- Trading volumes for Circle stock increased significantly as investor interest surged after the vote.
- Despite Ark Invest selling over 300,000 shares, Circle stock continued to gain momentum.
- Since its IPO, Circle stock has risen by 452%, exceeding Wall Street expectations.
Circle stock (CRCL) hit a new all-time high following increased investor confidence after the US Senate passed the GENIUS Act. Trading volume surged as buyers responded to the regulatory clarity offered by the Senate’s decisive 68-30 vote. The bill has fueled interest across the stablecoin sector, lifting multiple crypto-related stocks.
Circle stock outperforms Wall Street Forecasts
Circle stock surged 16% in 24 hours, reaching a record high of $176 during Wednesday’s trading session. Investors pushed prices from a session low of $148, with volumes rising in line with market enthusiasm. The rally continued despite significant fund movements, reflecting resilient demand across retail and institutional segments.
Despite Ark Invest selling more than 300,000 Circle stock shares across two of its funds, CRCL closed higher by 13%. This performance highlights market optimism surrounding Circle’s regulatory outlook and business fundamentals. Traders remained bullish, citing the Senate’s vote as a pivotal development for the stablecoin sector.
CRCL originally opened at $69 on its debut and ended that session at $83.23, well above the $31 IPO price. Since listing, CRCL has climbed by 452%, far outperforming early Wall Street projections. With demand surging, analysts are recalibrating expectations around Circle’s valuation and long-term market role.
GENIUS Act Triggers Broader Stablecoin Sector Rally
The GENIUS Act vote prompted sharp gains in stocks tied to stablecoin issuers and crypto-asset platforms. Ripple, Gemini, and Coinbase reacted positively, with Coinbase stock advancing by 11% during the same session. The legislation sparked renewed optimism about the future of stablecoins in the United States.
The bipartisan backing of the GENIUS Act underscored growing political consensus on stablecoin regulation. Market participants interpreted the vote as a strong signal of legislative support for blockchain finance. This backdrop contributed to bullish sentiment that benefited CRCL and peer firms alike.
Tether also minted one billion USDT on Ethereum, further fueling speculation about future stablecoin growth. However, Circle stock captured the spotlight with its leading role in the rally. As momentum builds, attention remains on how the House will respond to the GENIUS Act’s passage.
