Movement Alert|Circle Internet Corp. Falls 5.54% in Regular Trading, Stablecoin Supply Contraction and Rising Bank Competition Weigh on Sentiment

Market Focus11-12 22:39

On November 12, Circle Internet Corp. fell 5.54% in Regular Trading, trading at $64.0 per share, with turnover of $69.6034 million.

The move aligned with renewed pressure on the stablecoin sector as total dollar stablecoin supply fell by about $14.86 billion over the past 30 days, the steepest monthly contraction since June 2022, while USDC circulation dropped to about $69.89 billion, highlighting liquidity pressure in Circle Internet Corp.’s core market.

Recent reports also pointed to intensifying competitive concerns as major banks advanced regulated dollar stablecoin initiatives, including Project Faro backed by 21 financial institutions and targeted for launch by 2027. Although Circle Internet Corp. previously reported quarterly EPS of $0.84 and revenue plus reserve income of $864.9 million, both above expectations, the latest session suggests investors were more focused on shrinking stablecoin supply and competitive risk. BitGo’s addition of institutional USDC minting and redemption services provided a constructive infrastructure update, but it did not offset the broader pressure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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