Circle Stock Surges 49% YTD as USDC Circulation Nears $79 Billion

Circle's stock has risen 49% year to date, outpacing both the S&P 500 and Nasdaq 100, as Wall Street increasingly views stablecoins as a distinct asset class separate from crypto speculation. The USDC issuer is benefiting from accelerating stablecoin adoption in payments and onchain settlement, with USDC circulation now approaching $79 billion. Bernstein analysts maintain an "Outperform" rating on Circle shares with a $190 price target, approximately 60% above current levels.