Circle's stock price surges 22% to break $160, setting a new historical high! CRCL has risen over 420% in nine days, institutions eyeing $300

Circle's stock price soared past $160 in less than two weeks since its listing, with a cumulative increase of over 420% in just nine trading days since its debut on the NYSE on June 5, surpassing a market capitalization of $35 billion, solidifying its position as the 'first stock of stablecoins'. (Background: Circle's stock has surged too much, and some are unhappy! Arca blasts: the allocation is too small, betraying crypto; everyone is switching to USDT) (Additional context: Circle (CRCL) stock has risen more than cryptocurrencies! It skyrocketed nearly four times on its second day of listing) The US dollar stablecoin issuer Circle's stock price again posted a significant gain, with CRCL rising over 22% during intraday trading after the US stock market opened, peaking at $163.46, setting a new historical high. Since its listing on June 5, it has accumulated a rise of over 420% in just nine trading days, and its market capitalization has surpassed $35 billion, reinforcing its status as the 'first stock of stablecoins'. Image source: Google Finance Behind Circle's explosive rise: Institutional funds and regulatory dawn Circle initially launched its IPO at $31, and on its first day closed at $83.23, more than doubling; recently, the stock price has soared again, which the market attributes to two forces: Institutional demand amplification: Since the beginning of the year, asset management giants like BlackRock and Fidelity have absorbed billions of dollars through spot ETFs, accelerating the integration of stablecoins with traditional asset pools, driving Circle's valuation upward. Clear regulatory path: The US 'GENIUS Act' and the Hong Kong stablecoin framework have entered the legislative process, with investors expecting the compliance threshold for USDC to be lowered, leading to an expansion of Circle's fees and circulation. Currently, several brokerages have raised Circle's stock price target to $300, though some analysts caution that the demand for USDC and narrowing interest spreads remain variables for the future. Related reports: TRON initiates the minting of USD1, unveiling a new chapter in the stablecoin ecosystem. Why do stablecoins need privacy? The larger the market cap, the more nightmares there are. Behind JD.com and Ant Group's application for stablecoin licenses: A new round of digital payment positioning war."Circle's stock price surges 22% to break $160, setting a new historical high! CRCL has risen over 420% in nine days, institutions eyeing $300" was first published by BlockTempo (the most influential blockchain news media).