Circle's Stock Continues to Surge, Surpassing Coinbase and USDC Market Cap

Since its IPO on June 5, Circle Internet Group's stock has continued its rapid ascent. Initially priced at $31 for its IPO, the stock climbed an additional 10% in Monday's trading, marking an approximate sevenfold return since the IPO. During Monday's session, the stock price momentarily reached $298, pushing its market capitalization over $77 billion. This valuation surpasses the market size of its own stablecoin USDC, which stands at $61.5 billion, as well as the market cap of its partner cryptocurrency exchange, Coinbase.