Crypto
Circle Shares Bounce Back as USDC Market Cap Growth Resumes
Circle's shares have rebounded from their recent low of around $57. The company behind USDC, the second-largest stablecoin by market capitalization, saw its stock price recover as analysts pointed to growth in USDC's market cap.
A CryptoQuant analyst noted on September 10 that USDC's market capitalization has resumed expanding. This uptick in growth coincides with Circle's share price rebound from the low of around $57.
The analyst highlighted the synchronized recovery of both USDC's market-cap growth and Circle's share price, suggesting a positive correlation between the two.