Reward 500 Tiger-coinsQ4 revenue hit $770 million, far exceeding market expectations of $740 million; adjusted EBITDA soared 412% YoY. Following the release of the earnings report, $Circle Internet Corp.(CRCL)$ surged nearly 35%! Against the backdrop of overall volatility in the crypto market, this report acted like a "shot of adrenaline," with many even believing that today's Bitcoin rise was driven by Circle.
1. Stellar earnings data proves the 30% surge!
In a market where SaaS is generally being shorted, Circle's subscription revenue is instead growing significantly. It’s not that the subscription model no longer works, but whether your service meets the needs of the new era.
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Revenue: Q4 recorded $770 million, up 77% YoY. Total annual revenue reached $2.75 billion.
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USDC Circulation: Reached $75.3 billion, up 72% YoY; On-chain Volume reached $11.9 trillion in Q4 alone, up 247% YoY.
This figure crushes doubts that Circle would collapse during a Fed rate-cutting cycle. While Fed rate cuts do affect Circle's yield per asset, the surge in USDC circulation has offset the impact of declining yields.
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Profitability (EPS & EBITDA): EPS was $0.43 (market expectation was only $0.16), exceeding expectations by 168%. Adjusted EBITDA recorded $167 million, with a profit margin as high as 54%.
2. Circle's "Google Moment"? New growth story solves market concerns!
In addition to the key figures above, the earnings report also provided a strong response to various past doubts. Circle is transforming from being highly dependent on interest spread income to becoming a more versatile infrastructure, growing from a heavy reliance on distribution platforms like Coinbase to achieving independent and autonomous growth.
If Arc is a "highway" (underlying blockchain) built by Circle, then Circle Payments Network (CPN) is the "toll station, entrance/exit, and logistics center" on that road. Simply put, CPN is a set of payment infrastructure (API-driven) provided by Circle that integrates the traditional banking system with blockchain technology. Its core mission is to solve a century-old puzzle: how to make "fiat in banks" and "digital currency on-chain" convert and complete payments seamlessly.
Top-tier stablecoin issuers all want to build their own "highways." Circle has Arc; Tether also has Stable and Plasma. Only by mastering the underlying Layer 1 can one achieve autonomous gas fees (paying directly with USDC), fully controllable compliance, and absolute sovereignty over asset settlement.
The ceiling for Circle's valuation has been opened. Considering the liquidity from the Fed's rate-cutting cycle, the imminent passage of the Clarity Act, the popularity of the Polymarket prediction market brought by the World Cup, and Meta restarting its stablecoin business... the current stock price is just the starting point. Circle's future is "the stars and the sea."
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In the future, will stablecoins drift further away from cryptocurrencies, or will they continue to drive cryptocurrencies upward?
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Can we still chase the rally after Circle's surge? Or take profits now?
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After BTC's recent rebound, will there be a larger decline or continued bottoming?
Leave your comments to win tiger coins!
Comments
More importantly, Circle is evolving beyond reliance on Coinbase and positioning itself as infrastructure. Arc and its payments network show it wants to own the pipes between banks and blockchain — that’s where the long-term moat lies.
As for strategy, I’m not blindly chasing after such a sharp spike, but I’m also not rushing to take profits if the thesis is strengthening. Stablecoins, in my view, remain the liquidity engine for assets like Bitcoin. Near term, I expect consolidation; structurally, I stay constructive.
@TigerStars @TigerClub @Tiger_comments
虽然它们作为“避风港”和支付工具变得越来越明显，但它们仍然是推动加密货币更广泛反弹的主要流动性来源。
稳定币与比特币等波动性资产之间的关系正在转向互补但不同市场结构。
比特币最近反弹至68,000-69,000美元左右，但技术指标仍受到“看跌寒意”的严重影响。
当前区间：BTC被困在60,000美元（主要支撑）和72,000美元（第一个主要阻力）之间。
下行风险：多位分析师警告称，如果未能守住60,000美元，将出现“更大的跌幅”，在最坏的周期情况下，看跌目标将延伸至50,000美元甚至38,000美元。
看涨催化剂：需要持续突破75,000-76,000美元才能使看跌趋势失效。机构对2026年底的长期目标仍然乐观，范围为120,000美元至175,000美元。
Circle's stock surged nearly 35% on February 25, 2026, following a massive Q4 earnings beat.
Performance vs. Positioning: While revenue grew 77% YoY, analysts note the surge was partially fueled by a short squeeze on overcrowded bearish bets.
The "Take Profit" Argument: The stock remains down over 70% from its 2025 highs, and management has issued conservative 2026 guidance, projecting a slowdown in USDC growth to 40% (vs. 72% in 2025).
The "Chase" Argument: Average analyst price targets still sit around $129–$141, implying significant potential upside from the current ~$83 level for long-term believers in stablecoin infrastructure.
Technical analysts see the surge past the USD 77 resistance as a breakaway gap that could signal a major new uptrend.
Another major catalyst is the Circle Payments Network or CPN. It isn't just a platform. It has moved Circle from just a stablecoin issuer to a global financial utility.
CPN is also being engineered for Autonomous AI Agents. This is Circle's Agentic AI Moonshot and the market is enormous. Expect trillions of micro transactions in the Edge AI Explosion.
At the last closing price of USD 87.21, Circle has the potential to skyrocket with exponential growth ahead.🚀🚀🚀🌛🌛🌛💰💰💰
@Tiger_comments @TigerStars @TigerClub @CaptainTiger