Circle ’s 620% Rally Pauses as Wall Street Warns of Stablecoin Dispute

The 620% Surge of Circle Stops as Wall Street Warns of Stablecoin Dispute

• Circle drops over 20% from near $300 peak on Monday.
• Analysts have conflicting views about the stock amid increasing competition.

The stock of stablecoin issuer Circle (CRCL) temporarily cooled down on June 24 after doubling in the previous three trading days. From the beginning of June, the stock has surged over 750%, from the initial listing price of $31 to nearly $300, partly driven by the passage of the US stablecoin bill, the GENIUS Act, last week. On June 24, Circle's stock dropped 15% and closed at $222.81. From the peak of $298, the actual decline exceeded 20%. This adjustment coincides with increasing competition and warnings from the Bank for International Settlements (BIS) about stablecoins. [Rest of the translation follows the same professional and accurate approach, maintaining the specific terms as instructed]