Circle, BitMine, Coinbase Stocks Set for October Rally

As the crypto market continues to rally, several top stocks are expected to perform well in October. Circle Internet Group is one of them, having jumped in September and paring back some gains despite major catalysts. The launch of Arc, its layer-1 network, has been particularly well-received, with a total value locked (TVL) of over $500 million and a stablecoin supply of over $550 million.

Investors will be watching Arc closely in October, as growth signs will be bullish for the shares. This is because it will establish a new revenue stream for the company and lead to a higher valuation of a potential ARC token in future.

Circle will also be in focus due to the ongoing US bond yields surge. The ten-year has jumped to 5.2%, while the important 3-month bonds are yielding over 4.2%. This is significant for Circle because it invests its cash holdings to short-term bonds and swaps.