Circle's stock price surged over 35%, with USDC accounting for nearly half of stablecoin transactions.

PANews reported on February 26th that, according to The Block, Circle (CRCL) shares rose approximately 30% to around $80 after the release of its earnings report, closing at $83.33, a 35.47% increase. The company previously disclosed fourth-quarter revenue and reserve gains of $770 million, a 77% year-over-year increase , and guided that USDC circulation will grow at a CAGR of 40% over the next few years. Brokerage firm William Blair maintained its "Outperform" rating, calling it one of the few high-quality crypto infrastructure stocks. The report showed that the fourth-quarter revenue-less-distribution-cost margin exceeded 40%, thanks to approximately 18% of the average USDC circulating supply being directly hosted on the Circle platform; adjusted EBITDA was $167 million. Circle CEO Jeremy Allaire stated that, according to Visa statistics, USDC now accounts for "approximately 50%" of stablecoin trading volume, and on-chain USDC transaction volume has increased by over 250% year-over-year to approximately $12 trillion.