“Circle Rises 390%, Wall Street Announces ‘Crypto Bull Market’?”

Circle's price rose 390% in ten days, with market capitalization soaring to $36.7 billion!

In just 10 days since its listing, the stock price surged from $31 to $165, an increase of 387%, with a single-day rise of 13% on June 16, reaching $165.6 during trading.

Core Drivers:

USDC reserve income from interest rate differentials: In 2024, USDC reserves are expected to generate approximately $1.7 billion in revenue, 99% coming from stablecoins + U.S. Treasury yields.

Compliance and Transparency: Detailed disclosure of reserve structure sets a standard for the stablecoin issuance industry.

It’s not just about token investment, but rather positioning as an “on-chain asset mapping company.”

This market trend reflects a larger trend:

“On-chain financial infrastructure” is being revalued by Wall Street!

Compliance and transparency become the foundation of trust.

Stablecoins, vaults, wallets → become new asset allocation opportunities for traditional capital.

Investors are no longer fixated on tokens but are looking at the long-term value of these “on-chain asset companies.”

Do you think the market valuation is reasonable? Feel free to leave a comment for discussion!