HomeLatest NewsCircle shares rise 5% after Q2 EPS beat, USDC supply up 19%

Circle shares rise 5% after Q2 EPS beat, USDC supply up 19%

Posted: 8 August 2026, 12:02 CET 2 min read

Circle rose 5% pre-market after Q2 adjusted EPS of $0.18 beat estimates and USDC supply increased 19% year‑over‑year to $73.3 billion.

Circle Internet Group (NYSE: CRCL) shares rose 5% in pre-market trading on Aug. 5 after the company reported Q2 2026 adjusted earnings of $0.18 a share, beating analyst estimates, while USDC supply grew 19% year‑over‑year to $73.3 billion. The company reported $701 million in revenue for the quarter, short of the $713 million consensus.

USDC on-chain transfer volume rose 150% year‑over‑year to $14.8 trillion in Q2. CEO Jeremy Allaire noted, “Our quarterly financial results reflect the current rate environment and a crypto market that has slowed – both are conditions outside our network. But near-term activity tells a different story.”

The filing highlighted progress on Circle’s Arc blockchain. The company said more than 100 institutions, including BlackRock, BNY Mellon, DTCC and Standard Chartered, have been building on Arc for tokenized assets and payments. Circle plans to open Arc to the public on Sept. 16.

Circle also reported regulatory steps: it received a federal letter from the Office of the Comptroller of the Currency allowing it to operate as a national trust bank and obtained a New York state license.

In euro-denominated stablecoins, Token Terminal data show Circle’s EURC controls roughly 65% of the euro-pegged market, with Société Générale holding about 16%. EURC supply rose 0.11% year‑over‑year and its market capitalization stood near $456 million, with most supply on Ethereum, Solana and Base. The company’s market position in euros has been affected in part by a competitor’s decision not to apply for a MiCA license.

Analysts offered differing outlooks. Morgan Stanley downgraded the stock and set a $38 price target, citing concerns including slower USDC supply growth and competition from tokenized money market funds. The analyst consensus target sits near $104, and one firm has a projection as high as $140.

Investors will watch the Arc public launch on Sept. 16 and Circle’s efforts to expand regulated banking capabilities and adoption of its euro-denominated stablecoin.