Circle Internet Group (NASDAQ:CRCL) surged 9.74% to $111.84 Monday as Bernstein reiterated its $190 price target, implying 70% upside from current levels as stablecoin adoption accelerates for payments and AI agents.
The Stablecoin Adoption Thesis
Bernstein analysts highlighted that stablecoins are increasingly diverging from the broader crypto market cycle.
USDC supply stands at about $78 billion in circulation, reaching new highs despite Bitcoin (CRYPTO: BTC) trading significantly below its previous peak.
Tether’s (CRYPTO: USDT) supply stands at about $184 billion.
Total stablecoin transaction volume hit $55 trillion in 2025, up 98% year-over-year.
The adjusted figure stripping out bots and high-frequency trading reached $11 trillion, growing 91%. Payment activity alone totaled roughly $375 billion in 2025, up 76% from the previous year.
Consumer-to-business payments surged 131%, driven by increasing payment …