Circle Stock Climbs as USDC Hits $1.2 Trillion in June Trading Volume

Circle (NYSE: CRCL) stock is gaining momentum after its USDC stablecoin recorded a massive $1.21 trillion in adjusted trading volume during June 2026, reinforcing its leadership in the stablecoin market. Circle shares rose 4% on July 2 to close at $64 and added another 3.4% in pre-market trading on July 6, reaching around $66.

According to Grayscale Head of Research Zach Pandl, stablecoin trading volumes reached a record $1.78 trillion in June. Visa data shows USDC accounted for approximately 67% of that activity, significantly outperforming Tether’s USDT, which generated $573 billion in trading volume. Despite USDC’s lead in value transferred, USDT processed more transactions, recording 145 million transfers compared with USDC’s 57 million.

The strong trading activity comes after concerns emerged that the launch of the Open Standard USD (OUSD) stablecoin could reduce Circle’s market share. Those fears have eased following reports that Samsung and Dunamu distanced themselves from Open Standard despite previously being listed as partners, raising questions about the project's claimed ecosystem.

From a technical perspective, CRCL stock rebounded after finding support near $62 on June 30, when shares suffered their largest single-day decline since March following removal from several Russell indexes. The stock has since recovered to around $66, but analysts are watching the $71 level, which aligns with the middle Bollinger Band, as the next key resistance.

The Relative Strength Index (RSI) remains at 36, indicating bearish momentum has not fully disappeared. A sustained move above $71, accompanied by an RSI climbing beyond 50, could strengthen bullish momentum and potentially drive Circle shares toward the upper Bollinger Band near $83.

Despite a cautious outlook from Jefferies, which warned that OUSD could pressure Circle’s competitive position, CRCL stock has continued to advance. ARK Invest also demonstrated confidence by purchasing approximately $17.8 million worth of Circle shares on the same day the warning was issued.

While USDC’s market capitalization slipped slightly from $73.75 billion to $72.87 billion following OUSD’s debut, Circle’s dominant trading volumes and resilient stock performance suggest investors remain optimistic about the company’s long-term growth prospects.