Stablecoin Market Continues to Grow
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 10 2026
0mins
Should l Buy CRCL?
Source: Benzinga
- Stablecoin Supply Growth: The supply of USDC has reached approximately $78 billion in circulation, demonstrating strong demand despite Bitcoin trading significantly below its previous peak, highlighting the resilience and independence of stablecoins in the digital currency market.
- Surge in Transaction Volume: Total stablecoin transaction volume hit $55 trillion in 2025, up 98% year-over-year, with an adjusted figure of $11 trillion, growing 91%, indicating a rapid expansion of stablecoins in payment applications.
- Cross-Border Payment Infrastructure: Visa now supports over 130 stablecoin-linked cards across 50 countries, processing an annualized settlement volume of about $4.6 billion, while Circle is expanding its infrastructure through the Circle Payments Network, enabling USDC transfers with an annualized volume of $5.7 billion, underscoring the importance of stablecoins in global payment networks.
- AI Payment Opportunities: Bernstein analysts highlighted emerging opportunities for machine-to-machine payments relying on stablecoins for micropayments, with Circle positioned as a long-term winner due to its regulatory advantages, exchange partnerships, and expanding global payments network.
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Analyst Views on CRCL
Wall Street analysts forecast CRCL stock price to rise
17 Analyst Rating
10 Buy
4 Hold
3 Sell
Moderate Buy
Current: 100.010
Low
65.00
Averages
143.07
High
280.00
Current: 100.010
Low
65.00
Averages
143.07
High
280.00
About CRCL
Circle Internet Group, Inc. is a global financial technology company. It operates as a platform, network, and market infrastructure for stablecoin and blockchain applications and the issuer of a United States dollar-denominated stablecoin, USDC and a euro-denominated stablecoin, EURC (collectively Circle stablecoins). It provides a stablecoin network and a range of blockchain-specific software infrastructure. Its product offerings include Stablecoins, Developer Services, Integration Services, and Tokenized Funds. Developer Services develops an array of developer-ready and enterprise-grade infrastructure services that developers can plug into their own applications. It connects and integrates products, such as USDC across blockchain networks. Its Tokenized Funds are regulated yield-bearing investments for collateral use in capital markets. It also offers liquidity services, which provides institutional minting, reserving, redemption, and foreign exchange services for Circle stablecoins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Morgan Stanley Positions as Stablecoin Reserve Manager
- New Fund Launch: Morgan Stanley has introduced a mutual fund called MSNXX, designed to serve as a treasury management tool for stablecoins, enhancing redemption capabilities and new token creation efficiency through centralized liquidity and cash management.
- Market Competition Strategy: This move could position Morgan Stanley as a key player in the stablecoin industry, although it remains uncertain whether Circle or Tether will adopt this service; if successful, it could significantly enhance their market influence.
- Building Industry Trust: As a well-known financial institution, Morgan Stanley may attract other entities to outsource their stablecoin treasury management responsibilities, leveraging its brand trust to drive market share growth.
- Regulatory Challenge Response: This strategy may help Morgan Stanley navigate the regulatory challenges surrounding stablecoins, and if widely adopted, it could lay the groundwork for further advancements in the fintech sector.
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- Stablecoin Revenue Growth: Coinbase generated $1.35 billion in stablecoin revenue in 2025, representing 20% of its annual net revenue of $6.88 billion, indicating strong performance in the stablecoin market that will drive future growth.
- Trading Revenue Potential: As investor confidence returns, Coinbase's trading revenue is expected to rebound, particularly with increased demand for crypto ETFs, further solidifying its leadership position in crypto trading.
- Rise of Decentralized Finance: Coinbase's involvement in decentralized finance (DeFi) and asset tokenization through its Base blockchain has already amassed over $4.5 billion in its ecosystem, showcasing its strategic positioning in the emerging fintech landscape.
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Coinbase Benefits from Blockchain Adoption Surge
- Stablecoin Market Growth: Coinbase earned $1.35 billion in stablecoin revenue in 2025, representing 20% of its annual net revenue of $6.88 billion, indicating that the surge in stablecoin adoption significantly boosts the company's earnings and strengthens its position in the cryptocurrency market.
- Bitcoin Market Dominance: Bitcoin accounts for nearly 60% of the total crypto market cap, and despite a 10% decline year-to-date, its recent rise to $77,000 suggests potential recovery, which could enhance investor confidence and drive up Coinbase's trading revenue.
- Rise of Decentralized Finance: Coinbase is actively involved in decentralized finance (DeFi) and asset tokenization through its Base blockchain, which has over $4.5 billion in funds, enhancing its competitive edge and providing new revenue streams for future growth.
- Regulatory and Competitive Challenges: While Coinbase faces regulatory and competitive headwinds, its emerging leadership in the blockchain space could allow it to outperform Bitcoin as the industry matures, potentially leading to higher market returns.
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Morgan Stanley Positions as Stablecoin Reserve Manager
- New Fund Launch: Morgan Stanley has introduced a mutual fund called MSNXX, designed to serve as a treasury management tool for stablecoins, enhancing redemption capabilities and new token creation efficiency through centralized liquidity and cash management.
- Market Competition Strategy: This move could position Morgan Stanley as a key player in the stablecoin industry, although it remains uncertain whether Circle or Tether will adopt this service; if successful, it could significantly enhance their market influence.
- Building Industry Trust: As a well-known financial institution, Morgan Stanley may attract other entities to outsource their stablecoin treasury management responsibilities, leveraging its brand trust to drive market share growth.
- Regulatory Challenge Response: This strategy may help Morgan Stanley navigate the regulatory challenges surrounding stablecoins, and if widely adopted, it could lay the groundwork for further advancements in the fintech sector.
See More
US Crypto-Related Stocks Rise, Strategy Gains 2.3%
Market Performance: The U.S. stock market opened higher, with notable increases in cryptocurrency-related stocks.
Top Gainers: MicroStrategy (MSTR) rose by 2.3%, Coinbase (COIN) by 1.9%, and Circle (CRCL) by 1.4%.
Additional Increases: Mara Holdings (MARA) increased by 1.7%, Riot Blockchain (RIOT) saw a significant rise of 3.84%, and Bit Digital Inc. (BTBT) rose by 1.6%.
Minimal Change: Sphere 3D Corp. (ANY) experienced a slight increase of 0.2%.
See More
U.S. Stock Futures Climb Ahead of Market Open, Crypto Stocks Experience Widespread Increases, ABTC Surges More Than 2%
Market Overview: Pre-market trading data indicates a general increase in U.S. stocks related to the cryptocurrency market.
Top Performers: Notable gains include American Bitcoin (ABTC) up 2.38%, Robinhood (HOOD) up 1.52%, and MicroStrategy (MSTR) up 1.05%.
Additional Gains: Other companies showing positive movement include Gemini (GEMI) up 0.92%, Circle (CRCL) up 0.78%, and Bitmain (BMNR) up 0.75%.
Coinbase Performance: Coinbase (COIN) also experienced a slight increase, rising by 0.74%.
See More
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Nasdaq Composite Index Performance: The Nasdaq Composite Index has reached a new intraday all-time high, increasing by 1.25%.
Cryptocurrency Stock Gains: Several cryptocurrency-related stocks have shown significant gains, with MSTR up 9.41%, COIN up 5.73%, CRCL up 8.26%, SBET up 3.80%, and BMNR up 6.10%.
See More
Coinbase Outshines Bitcoin as a Superior Investment Opportunity
- Market Dominance: Bitcoin accounts for nearly 60% of the total crypto market cap, remaining a popular choice for institutional and retail investors despite recent losses, highlighting its relatively lower risk profile.
- Stablecoin Revenue Growth: Coinbase generated $1.35 billion in stablecoin revenue in 2025, representing 20% of its annual net revenue of $6.88 billion, indicating strong performance in the stablecoin market that will drive future growth.
- Trading Revenue Potential: As investor confidence returns, Coinbase's trading revenue is expected to rebound, particularly with increased demand for crypto ETFs, further solidifying its leadership position in crypto trading.
- Rise of Decentralized Finance: Coinbase's involvement in decentralized finance (DeFi) and asset tokenization through its Base blockchain has already amassed over $4.5 billion in its ecosystem, showcasing its strategic positioning in the emerging fintech landscape.
See More
Coinbase Benefits from Blockchain Adoption Surge
- Stablecoin Market Growth: Coinbase earned $1.35 billion in stablecoin revenue in 2025, representing 20% of its annual net revenue of $6.88 billion, indicating that the surge in stablecoin adoption significantly boosts the company's earnings and strengthens its position in the cryptocurrency market.
- Bitcoin Market Dominance: Bitcoin accounts for nearly 60% of the total crypto market cap, and despite a 10% decline year-to-date, its recent rise to $77,000 suggests potential recovery, which could enhance investor confidence and drive up Coinbase's trading revenue.
- Rise of Decentralized Finance: Coinbase is actively involved in decentralized finance (DeFi) and asset tokenization through its Base blockchain, which has over $4.5 billion in funds, enhancing its competitive edge and providing new revenue streams for future growth.
- Regulatory and Competitive Challenges: While Coinbase faces regulatory and competitive headwinds, its emerging leadership in the blockchain space could allow it to outperform Bitcoin as the industry matures, potentially leading to higher market returns.
See More
