Crypto Market Update: Circle Surges 13% as Amazon & Walmart Eye Stablecoins
The crypto market showed mixed signals today, with Circle (USDC issuer) stealing the spotlight after a 13% surge on news that Amazon and Walmart are exploring stablecoin ventures. Meanwhile, Bitcoin rebounded from an early slump but remains 6% below its all-time high, and major altcoins faced significant declines.
### Key Highlights:
🔹 Circle Soars 13% – Following its recent IPO, Circle’s stock surged as reports suggest retail giants Amazon and Walmart are moving into stablecoins, potentially boosting adoption of USDC.
🔹 Bitcoin Rebounds to $106K – After dipping to $102,600, BTC recovered slightly but remains at $105,200, still down 1.6% in 24 hours and 6% off its peak.
🔹 Altcoins Under Pressure – The CoinDesk 20 index fell 4.4%, with Ether (ETH), Avalanche (AVAX), and Toncoin (TON) dropping 6-8%.
🔹 Crypto Stocks Mostly Down – While most crypto-related stocks declined, Circle’s rally stood out amid broader market uncertainty.
🔹 Geopolitical Tensions Loom – The market remains sensitive to the Israel-Iran conflict, with Bitcoin briefly dipping on reports of new airstrikes.
### What’s Next?
With institutional interest growing (Amazon & Walmart’s stablecoin moves) and Bitcoin still near record highs, the market could see renewed momentum—but geopolitical risks and altcoin weakness may keep volatility high.
