- Circle’s stock jumped 34% in one day after the U.S. Senate passed the GENIUS stablecoin bill.
- Trading volume surged to over 60 million shares, reflecting high institutional investor confidence.
- The GENIUS Act could make USDC a regulated digital payment method in the United States.
Circle Inc. (CRCL) experienced a sharp 34% rise in stock price after the U.S. Senate passed the GENIUS stablecoin bill. The company’s shares closed at $199.59, continuing to gain momentum in after-hours trading with a peak of $211.87. This movement comes amid renewed investor optimism surrounding stablecoin adoption in the U.S. financial system.
The Senate has now adopted the GENIUS Act, which proposes a lawful framework for the use and regulation of stablecoins. Although the bill is yet to be reviewed by the House and formally signed by the President, as evidenced by the fact that it has passed its committee in the House, it has enjoyed bipartisan support. The regulatory transparency that the bill has given has bred interest in Circle, a company that maintains the USDC stablecoin.
Circle’s Market Position Strengthens with Legislative Progress
Circle, listed publicly on June 5, has seen its stock gain over 540% since its IPO. The GENIUS Act identifies mechanisms for issuing fiat-backed stablecoins like USDC. The legislation, if enacted, would allow such digital assets to be used as legal payment methods, which positions Circle to benefit significantly from policy developments.
The confidence shown by investors has been manifested through the drastic increase in the trading of Circle. The share volume traded was more than 60 million, which is close to the number of shares transacted in the company on average in a day. According to analysts, interest in institutions has expanded at a rapid pace since the decision of the Senate, and it is an indicator of increasing confidence in the regulatory perspective of digital assets.
Bigger Picture on the U.S. Stablecoin Adoption
The GENIUS Act is likely to transform the U.S. stablecoin market by giving it federal regulation and a well-organized framework. This would increase the use of stablecoins in conventional finance and payment infrastructure.
The role of Circle as one of the major stablecoin issuers in the U.S. indicates that its scope of operations can grow with the increase in regulatory support.
