Circle Internet Financial’s stock, CRCL, has surged over 150% from its February lows, closing at $125.83 on March 17. Analysts attribute the rally primarily to record growth in the supply of its USDC stablecoin, which has reached $79 billion, and emerging use cases in AI agentic payments.
Circle Internet Financial’s stock, CRCL, has staged a dramatic recovery, gaining over 150% from its February low of $49.9 to close at $125.83 on March 17. This surge reversed an 83% slump from late 2025 that saw the stock fall from $298.
While Bitcoin’s market rebound contributed, analysts singled out the adoption of Circle‘s stablecoin as a key driver. Jon Ma, founder of analytics platform Artemis, stated, “Circle at $50/share was obvious. Stablecoin supply was $73B +25% YoY.”
The supply of USDC has expanded to a record $79 billion, a 13% increase in two months. This growth occurred despite a broader contraction in crypto trading, suggesting a decoupling from market trends.
Significant adoption is occurring on platforms like Solana and Hyperliquid, where USDC supply grew 155% in one month. Circle is also betting on AI-driven payment systems, a concept supported by a Citrini Research report theorizing AI agents will transact on stablecoin rails by 2028.
CRCL’s rally has outperformed other crypto stocks like Coinbase (COIN) and MicroStrategy (MSTR) year-to-date. The Wall Street analyst consensus rating for the stock remains a ‘HOLD,’ with some projecting a price target of $145.
