Written by Sam Bourgi, Staff Editor. Reviewed by Robert Lakin, Staff Editor.
Written by Sam Bourgi, Staff Editor.
Reviewed by Robert Lakin, Staff Editor.
Circle stock rallies 15% as Wall Street sees further upside in stablecoin adoption
Latest NewsPublishedMay 11, 2026
Circle shares surged as analysts pointed to expanding stablecoin utilize cases and forecast notable upside as USDC adoption continues to gain traction.
Shares of stablecoin issuer Circle surged Monday after the company reported mostly upbeat earnings and disclosed that a major crypto venture capital fund had purchased $222 million worth of its blockchain tokens.
Circle’s shares rose nearly 16% to close at $131.76, its highest level since March 18, as reported by Yahoo Finance. CRCL stock gave back some of its gains in initial after-hours activity.
The gain extends Circle’s strong run in 2026. Shares are now up 66% year to date, giving the company a market capitalization of roughly $35 billion.
Circle (CRCL) stock. Source: Yahoo Finance
Monday’s surge pushed Circle shares closer to Wall Street’s consensus price target of $138.50, as reported by TipRanks.
Among the most bullish analysts is Peter Christiansen of Citigroup, who has a 12-month price target of $243. Gautam Chhugani of Bernstein has set a target of $190. Both analysts, along with 10 others tracked by TipRanks, rate the stock a “buy.”
Related: Circle stock sinks 10% amid analyst downgrade, Drift Protocol probe
Strong earnings and Arc token raise stoke optimism
Circle’s rally was driven by a largely upbeat earnings report and fresh details about its expanding blockchain strategy.
The company stated its USDC stablecoin reached $77 billion in circulation at the end of the first quarter, up 28% from a year earlier. Only Tether’s USDt has a larger circulating supply, at $189 billion.
During the first quarter, Circle’s revenue rose 20% to $694 million, while adjusted earnings increased 24% to $151 million.
Circle’s key financial metrics for Q1 2026. Source: Circle
In its earnings report, Circle also disclosed that it raised $222 million in a presale of its ARC token, a blockchain-based utility token designed to support transactions within its Arc network. The fundraising valued the project at $3 billion.
“The successful adoption of the Arc network, including through the benefit of the ARC token, has a huge flywheel effect onto our stablecoin network and our digital assets,” Circle CEO and co-founder Jeremy Allaire told analysts on the company’s earnings call on Monday.
Investors in the round included a16z Crypto and a consortium featuring BlackRock, Apollo Global Management and ARK Invest.
Analysts stated the results reinforced Circle’s leadership in the fast-growing stablecoin market.
Andrew Jeffrey of William Blair told clients that Circle shares “will probably remain volatile” in the near term, but stated the company has multiple positive catalysts driven by its “notable stablecoin commerce advantage.”
Dan Dolev of Mizuho stated Circle continues to demonstrate new utilize cases for stablecoins, broadening the technology’s role beyond crypto trading.
Related: Crypto Biz: Wall Street wants more than just Bitcoin
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- Circle
- Stocks
- Stablecoin
- Investments
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