Here's why Circle (CRCL) doubled in 15 days
From $61 to $118: How CRCL broke free from crypto
Since February 25, 2026, Circle's stock (CRCL) has surged from $61 to nearly $118 – almost doubling in 15 days. Once seen as a "Bitcoin proxy stock," CRCL is now charting its own rally, independent of the broader crypto market.
So what's driving the move?
Three forces behind the surge
1. Earnings that beat every expectation
Wall Street rewards results. Circle's Q4 and full-year 2025 earnings, released on February 25, caught analysts off guard:
Q4 revenue hit $770 million, up 77% year-on-year
Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) surged 412% to $167 million
With USDC's circulating supply sitting at $78 billion in reserve, Circle has turned a high-interest-rate environment into a remarkably steady revenue engine.
2. Expansion into the AI economy narrative
Circle is no longer just a stablecoin issuer. In its earnings call, the CEO confirmed that Project Arc mainnet is expected to launch in 2026. This positions USDC as a base settlement layer for the AI agent economy, where machines transact with machines.
Circle also recently partnered with Polymarket to enable native USDC settlement, expanding into real-world payment use cases.
3. Regulatory moat
The passing of the GENIUS Act in 2025 gave the US stablecoin market a clear framework. Rather than constraining Circle, it raised the compliance bar high enough to clear out smaller competitors, placing Circle alongside institutions like Fidelity and Goldman Sachs as core financial infrastructure.
Wall Street's target: $190
With such a dramatic shift in fundamentals, major investment firms are taking notice. Wall Street firm Bernstein recently reiterated its "Outperform" rating on CRCL and set a $190 price target. That implies over 60% upside even from the current ~$118 level.
Circle's rally highlights a powerful market thesis: A compliant stablecoin issue, strong cash flows, and a growing stake in AI payment infrastructure.
Trade CRCL now, without the wait
Fast-moving markets don't wait for slow bank transfers to traditional brokerages. With tokenized stocks on Bitget Wallet, you can trade CRCL directly from your Web3 wallet using USDT or USDC, 24/7.
Instead of just holding USDC, you can now easily invest in the company powering the stablecoin ecosystem.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Always do your own research before trading.