With the close-taking of the Genius Act and a number of companies advertising stablecoin initiatives, stablecoin-related assets have been in a tear.
Circle, issuer of USDC, has seen its share ladder approx. 500% since its debut on June 5th. This week the company was appreciated for a staggering $ 77 billion, which is far above the total market capital of USDC itself (about 62 billion dollars).
Bullish signals to stableecoins were everywhere:
CRCL is now the most popular foreign stock in South Korea.
The leading stableecoin issuer, Tether, has so much extra cash that it can afford to have a determinative share in Juventus, an Italian football team.
Coinbase, which actually makes more money from USDC than Circle, has seen its stock rise to its highest level of four years.
Even euro-supported stableecoins, long a forgotten cousin to USD coins is growing. Combined, they have increased by 44% a year, led by Circle’s EURC.
Stableecoins are the “quiet winners” from prediction markets such as the polyming field.
And so on.
Traditional payment giants, such as MasterCard and Visa, have responded to StableCecoin Mania by flooding their own messages. MasterCard announced new bonds with Moonpay, Chainlink and Kraken this week.
In the midst of all stableCOin news we still had room for lots of other topics.
Sei also rose (albeit on StableCOin News).
Federal Reserve officially said that crypto no longer had “reputation risks” for banks, leaving them to provide all the financial services they want for cryptic companies.
World Liberty Financial, the Trump family vehicle, turned a promise to make his token non-transferable.
In the summer months, it can sometimes feel like nothing much is happening. Not this year; Crypto is not waiting for anyone.
