Circle Internet Group (CRCL) stock has rapidly increased in just a few days since its IPO launch on the New York Stock Exchange.
Current market data has revealed that Circle stock jumped 800% in just 18 days. This rapid increase is a clear indicator of strong demand and effective positioning.
Circle Stock Jumps to $279
According to Yahoo Finance data, the 800% rally in CRCL pushed the price to over $279. As of this writing, CRCL was trading at $263 per share after jumping 23% over the past day.
Circle, the issuer of the stablecoin USDC, launched its CRCL stock on the New York Stock Exchange on June 5, 2025. Since then, the stock has continued on an upward momentum.
CRCL shares opened at $69 on the first day of trading, doubling the IPO price. The stock reached an intraday high of $103.75, valuing Circle at nearly $18 billion on a fully diluted basis.
By June 20, the crypto stock continued its upward trend post IPO. Circle stock added 8.3% in the pre-market session and traded at $215.83, after closing the prior session at $199.59.
The massive growth in CRCL stock follows the passing of the GENIUS Act Stablecoin bill by the US Senate. The swift passage of the stablecoin bill has strengthened market confidence.
Once signed into law, the legislation will mark the United States’ first federal framework for stablecoins.
It will mandate full backing, regular audits, regulatory approval for issuers, and limits on algorithmic stablecoins.
CRCL Outpaces USDC in Market Cap
The 800% rally pushed CRCL’s market capitalization to below $67 billion. Accordingly, the CRCL stock now overtakes the $61.7 billion supply of USDC in circulation.
However, USDT, the stablecoin from Tether, remains the most dominant, with a market capitalization of $156.4 billion.
The surge in Circle stock comes when the stablecoin market is experiencing a boom. Prediction platforms, like Polymarket, highlighted strong growth.
According to the platform, volumes in the stablecoin market have grown 23 times compared to last year.
A recent Coinbase report revealed that fiat-linked cryptocurrencies processed $27.6 trillion in 2024, surpassing the combined processing of Visa and Mastercard.
The study also found that 81% of crypto-aware Small and Medium Businesses (SMBs) expressed interest in using stablecoins.
With its heavily regulated status, Circle has benefited from this enhanced adoption trend.
How Other Crypto Stocks Are Holding Up
While the Circle stock (CRCL) exhibits strong momentum, crypto stocks from some top Web3-based firms have slipped.
For instance, the price of Coinbase (COIN) dropped slightly by 0.2% over the previous day to $307.
Likewise, Strategy MSTR stock recorded a nearly 2% decline to $362.50 in premarket trading hours on Monday, June 23, 2025.
This decline comes despite the company buying an additional 245 BTC, valued at $26 million. MSTR is down 0.68% to trade at $367 as of this writing per Yahoo Finance data.
Stocks from Bitcoin mining firms, RIOT Platforms, and MARA Holdings also followed the downtrend.
While RIOT stocks plummeted by 3%, the value of MARA dropped by 0.98% within the same period.
The pullback in these stocks follows a tempered outlook for the crypto market, which shows signs of recovery.
According to market insight, Bitcoin (BTC) price has rallied to $105,000, while Ethereum (ETH) reclaimed $2,400 in an unexpected recovery boost
