Circle Tops USDC Float, Coinbase Rallies — Is This Just Beginning?
Could Circle Internet Group (CRCL) and Coinbase (COIN) stocks be the next big plays for crypto equity investors? As American lawmakers proceed with the stablecoin regulations, both CRCL and COIN have had double-digit percentage rallies in the last few weeks. So, now the investors are watching very closely to see whether the momentum carries on and how it stands to be a force in the entire crypto scene.
Let's analyze all of the latest price action, the technical outlook, and where things may be headed for the shares of Circle and Coinbase.
Circle Stock Rockets 750% Since IPO Amid GENIUS Act Momentum
The Circle Internet Group (NYSE: CRCL), which is behind the USDC stablecoin, has been on one explosive run since its June 5, 2025, IPO. The stock has appreciated about 750% from an IPO price of $31 and just closed at $263.45, though it did touch an intraday high of nearly $299.
This unprecedented rally came about with the passage of the GENIUS Act by the U.S. Senate, a landmark bill that envisages clear regulatory frameworks for fully-backed stablecoins. It has quite increased investor confidence in compliant digital asset companies such as Circle and Coinbase.
Consequently, standing at $63.89 billion, Circle has become larger than USDC, which has an approximate circulating supply of $61.68 billion-a very rare case when the equity value of a stablecoin issuer surpasses the total token float capacity.
Source: X
USDC and Stablecoin Market Landscape: Tether Still Dominates
While Circle’s equity has grown beyond its stablecoin float, USDC continues to stand second among stablecoins of circulation, boasting a market capitalization of roughly $62 billion. In first place is Tether (USDT), which assures itself of an enormous market cap close to $156 billion and an imposing 62% market share.
The market is now expecting fresh institutional demand for compliant stablecoins such as USDC, with regulatory clarity potentially arriving courtesy of the GENIUS Act, which could yet further underpin Circle's stock in the coming months.
Nevertheless, with regulatory clarity on the horizon due to the GENIUS Act, market participants foresee fresh institutional demand for such compliant stablecoins as USDC, which could keep Circle's stock afloat over the months ahead.
Coinbase (COIN) Price Action: Bullish Breakout in Progress
The bullish wave continues to push Coinbase Global Inc. (NASDAQ: COIN) upward in the price charts. With reference to a daily chart, COIN decisively broke above key resistance levels of Fibonacci. After consolidating at the 61.8% retracement level at $270.15, the stock took off, snagged the gain above the 78.6% level at $305.92, and closed recently at $307.59, with some pre-market momentum standing now above $316.22.
Technical patterns are also encouraging. The inverse head-and-shoulders breakout is credibly confirmed—a classical bullish reversal sign. An RSI near 70.5 seems to suggest good momentum as well, though traders should be aware of the overbought zone coming soon.
Source: TradingView
If sustained, the current bullish momentum could take COIN up to the 100% Fibonacci extension near $349.44. Any subsequent pullbacks toward $305 or $270 will be good buying opportunities as long as the breakout structure remains intact.
CRCL Technical Outlook: More Upside After Cooling Phase?
On the 30-minute chart, CRCL stock recently rallied from $64 (June 05) to nearly $300 on June 23 before settling at around $263.45 at the time of closing. No doubt, volume trends are intense, while RSI is at a comfortable 58.19, which may suggest a nice consolidation after the steep climb.
This price, roughly speaking, is consolidating between $255 and $270, which is starting to look like a possible support zone. If the zone remains intact, then the stock will probably make another attempt to breakout toward the key $300 resistance.
Source: TradingView
On the downside, a break below $250 could trigger a short-term pullback toward $225. However, as long as the uptrend holds, analysts believe that CRCL will, on a medium-term basis, continue to test the $320-$350 region if the broader crypto sentiment stays bullish.
What’s Next for Crypto Equities?
As the crypto markets make preparations for regulatory clarity, including the potential passage of the GENIUS Act in the Houses, Circle (CRCL) and Coinbase (COIN) are slowly emerging as powerful brands in the ever-changing digital asset space.
With technical bullishness, increased institutional attention, and strong policy support, are these stocks on their way toward even further upsides?
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