On August 26, Circle Internet Corp. rose 5.15% in regular trading, trading at $92.265/share, with turnover of $1.172 billion. The rally was driven by a Bernstein research note highlighting signs of digital dollar reflation in USDC.

Bernstein analysts noted that USDC supply surged $2 billion over seven days, maintaining an outperform rating on Circle with a $140 price target. The firm pointed out that USDC transaction volume share has now surpassed USDT, signaling a meaningful shift in stablecoin market dynamics. On-chain data corroborates this momentum, with Circle minting approximately $1 billion USDC on Solana within 24 hours and total stablecoin issuance growing $1.7 billion over the past week — nearly five times Ripple's asset issuance increase over the same period.

Additional tailwinds include FASB's proposed accounting standard update that could classify qualifying stablecoins as cash equivalents, and reports that social media platform X is in discussions to use USDC to pay creators. USDC total circulation has reached 727 billion tokens, backed by approximately $729 billion in reserves including overnight reverse repos and short-term Treasuries.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)