{"id":21312,"date":"2026-07-06T14:44:01","date_gmt":"2026-07-06T14:44:01","guid":{"rendered":"https:\/\/cryptoted.net\/index.php\/2026\/07\/06\/circle-shrugs-off-jefferies-warning-as-usdc-dominates-stablecoin-trades\/"},"modified":"2026-07-06T14:44:01","modified_gmt":"2026-07-06T14:44:01","slug":"circle-shrugs-off-jefferies-warning-as-usdc-dominates-stablecoin-trades","status":"publish","type":"post","link":"https:\/\/cryptoted.net\/index.php\/2026\/07\/06\/circle-shrugs-off-jefferies-warning-as-usdc-dominates-stablecoin-trades\/","title":{"rendered":"Circle shrugs off Jefferies warning as USDC dominates stablecoin trades"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"is-style-lead\">Circle shares have climbed despite a bearish analyst note from Jefferies, as fresh data has shown USDC processed more than twice the adjusted stablecoin trading volume of Tether\u2019s USDT in June.<\/p>\n<div id=\"cn-block-summary-block_79517d8b3b73bd722ba9e7ec299b43df\" class=\"cn-block-summary\">\n<p>\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/p>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Circle shares gained despite a bearish Jefferies note as USDC led stablecoin trading volumes in June.<\/li>\n<li>Visa data showed USDC processed $1.21 trillion in adjusted volume, more than double USDT\u2019s $573 billion.<\/li>\n<li>CRCL is rebounding from key support, but bulls must clear the Supertrend resistance to confirm a trend reversal.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to Grayscale Head of Research Zach Pandl, stablecoins recorded a record $1.78 trillion in adjusted trading volume during June 2026. Visa data cited by Pandl showed Circle\u2019s USDC accounted for about $1.21 trillion of that activity, giving it a 67% share of total stablecoin trading volumes. USDT processed $573 billion during the same period.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">June 2026 was another record month for stablecoin transaction volume (according to the Allium measure), just ahead of February 2026 <a rel=\"nofollow\" href=\"https:\/\/t.co\/oEuT6ueuai\">pic.twitter.com\/oEuT6ueuai<\/a><\/p>\n<p>\u2014 Zach Pandl (@LowBeta) <a rel=\"nofollow\" href=\"https:\/\/x.com\/LowBeta\/status\/2073907325690102119?ref_src=twsrc%5Etfw\">July 5, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>While Tether trailed USDC in transaction value, it handled the highest number of transfers, recording 145 million transactions compared with USDC\u2019s 57 million.<\/p>\n<p>Circle Internet Group\u2019s stock has responded positively to those figures. CRCL closed 4% higher at $64 on July 2 and was trading around $66 in pre-market trading on July 6, extending gains even after Jefferies advised investors against buying the stock over concerns that a new rival stablecoin could pressure Circle\u2019s market position.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1013\" height=\"597\" src=\"https:\/\/media.crypto.news\/2026\/07\/Screenshot-2026-07-06-193958.webp\" alt=\"Circle (CRCL) 1-day intraday chart showing the stock trading around $66 after rebounding from an early session low near $63, with a daily range of $62.95 to $66.96.\" class=\"wp-image-14471739\" srcset=\"https:\/\/media.crypto.news\/2026\/07\/Screenshot-2026-07-06-193958.webp 1013w, https:\/\/media.crypto.news\/2026\/07\/Screenshot-2026-07-06-193958-300x177.webp 300w, https:\/\/media.crypto.news\/2026\/07\/Screenshot-2026-07-06-193958-768x453.webp 768w, https:\/\/media.crypto.news\/2026\/07\/Screenshot-2026-07-06-193958-880x519.webp 880w\" sizes=\"auto, (max-width: 1013px) 100vw, 1013px\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/finance.yahoo.com\/quote\/CRCL\/\" target=\"_blank\" rel=\"nofollow\">Yahoo Finance<\/a><\/figcaption><\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">USDC volume lead eases pressure from new rival<\/h2>\n<p>Jefferies <a href=\"https:\/\/x.com\/CoinMarketCap\/status\/2072676963227975783\" target=\"_blank\" rel=\"nofollow\">warned<\/a> investors on July 2 that the <a href=\"https:\/\/crypto.news\/blackrock-joins-ripple-for-revenue-sharing-stablecoin\/\" target=\"_blank\">launch<\/a> of the OUSD stablecoin could weaken Circle\u2019s position in the stablecoin market and weigh on its valuation. The caution came after CRCL posted its largest one-day decline since March on June 30, when the stock sold off following OUSD\u2019s launch and Circle\u2019s <a href=\"https:\/\/crypto.news\/circle-stock-falls-17-5-after-russell-removals-and-open-usd-launch\/\" target=\"_blank\">removal from several Russell indexes<\/a>.<\/p>\n<p>However, some of those concerns have faded after <a href=\"https:\/\/crypto.news\/samsung-distances-itself-from-ousd-founding-consortium\/\" target=\"_blank\">questions emerged<\/a> over Open Standard\u2019s claims of having 140 partners. Samsung and Dunamu, both previously listed as partners, later distanced themselves from the project, casting doubt on some of the announced industry backing.<\/p>\n<p>Institutional buying also provided support. On the same day Jefferies published its bearish note, ARK Invest <a href=\"https:\/\/crypto.news\/ark-snaps-up-38-million-dollars-tesla-dip\/\" target=\"_blank\">disclosed purchases<\/a> of roughly $17.8 million worth of Circle shares despite the cautious outlook.<\/p>\n<p>USDC has nevertheless recorded a slight decline in supply. Circle\u2019s stablecoin market capitalization slipped from $73.75 billion on June 30 to $72.87 billion by July 6, indicating some capital rotated elsewhere following the OUSD launch even as USDC maintained a commanding lead in transaction volume.<\/p>\n<h2 class=\"wp-block-heading\">Technical rebound faces major resistance<\/h2>\n<p>From a technical perspective, CRCL has rebounded after finding support near the 1.0 Fibonacci extension at $61.73 on the four-hour chart. Buyers have defended that level over recent sessions, helping the stock recover from around $62 to nearly $66.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"954\" src=\"https:\/\/media.crypto.news\/2026\/07\/CRCL_2026-07-06_19-36-02.webp\" alt=\"Circle (CRCL) 4-hour chart showing a rebound from Fibonacci support near $61.73 while remaining below Supertrend resistance at $75.66 as bearish momentum weakens.\" class=\"wp-image-14471738\" srcset=\"https:\/\/media.crypto.news\/2026\/07\/CRCL_2026-07-06_19-36-02.webp 1827w, https:\/\/media.crypto.news\/2026\/07\/CRCL_2026-07-06_19-36-02-300x157.webp 300w, https:\/\/media.crypto.news\/2026\/07\/CRCL_2026-07-06_19-36-02-1024x535.webp 1024w, https:\/\/media.crypto.news\/2026\/07\/CRCL_2026-07-06_19-36-02-768x401.webp 768w, https:\/\/media.crypto.news\/2026\/07\/CRCL_2026-07-06_19-36-02-1380x721.webp 1380w, https:\/\/media.crypto.news\/2026\/07\/CRCL_2026-07-06_19-36-02-880x460.webp 880w\" sizes=\"auto, (max-width: 1827px) 100vw, 1827px\"\/><figcaption class=\"wp-element-caption\">CRCL 4-hour price chart \u2014 July 6 | Source: TradingView<\/figcaption><\/figure>\n<p>The recovery, however, has yet to change the broader technical picture. CRCL remains below the Supertrend indicator, which sits near $75.66 and continues to signal that sellers retain control. Reclaiming that level would be the first indication that bullish momentum is strengthening.<\/p>\n<p>Momentum indicators are beginning to improve. The MACD histogram has almost returned to the zero line after several weeks of negative readings, suggesting selling pressure is fading. However, the MACD line remains below the signal line, meaning a confirmed bullish crossover has not yet occurred.<\/p>\n<p>If buyers push the stock above the Supertrend resistance, the next upside levels to watch are the Fibonacci retracement zones near $78.47, followed by $91.61 and $100.84. On the downside, losing support around $61.73 would weaken the current recovery attempt and increase the risk of another move lower.<\/p>\n<div class=\"cn-block-disclaimer\">\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/circle-shrugs-off-jefferies-warning-as-usdc-dominates\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle shares have climbed despite a bearish analyst note from Jefferies, as fresh data has shown USDC processed more than twice the adjusted stablecoin trading volume of Tether\u2019s USDT in June. Summary Circle shares gained despite a bearish Jefferies note as USDC led stablecoin trading volumes in June. Visa data showed USDC processed $1.21 trillion [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":21244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[],"kronos_expire_date":[],"class_list":["post-21312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"_links":{"self":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/21312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/comments?post=21312"}],"version-history":[{"count":0,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/21312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media\/21244"}],"wp:attachment":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media?parent=21312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/categories?post=21312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/tags?post=21312"},{"taxonomy":"kronos_expire_date","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/kronos_expire_date?post=21312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}