Currency-stable transactions continued to increase in June. Grayscale Research Manager Zach Pandl quoted Visa as saying that the volume of transactions after a currency-stabilization adjustment for the month reached $178 trillion, a new high. Of these, USDC, which was issued by Circle, contributed about $121 trillion, or 67 per cent of total transactions, which is significantly higher than US$ 573.0 billion.

USDC trades ahead.

Although USDT lags behind USDC in terms of transaction amounts, the number of transfers is still higher. According to the data, USDT processed about 145 million transfers during the same period, compared to 57 million USDC. This means that USDC accounts for a higher share of large transactions, while USDT still covers a wider range of transfer use scenarios.

Circe's share price was also boosted by this set of data. On 2 July, the CRCL recovered between 4 per cent and $64; by 6 July, the equity price was estimated at $66, a continuation of the previous rebound.

After Jefferies warned, the market returned. Steady.

Jefferies reminded investors on 2 July that with the introduction of the new Stabilisation Currency OUSD, Circe ' s position in the stable currency market might be under pressure and valuation could be affected. Earlier, on 30 June, CRCL had the largest single-day drop since March, owing to the OUSD go-live and the removal of a part of the Russell index from the Circle.

However, the market ' s concern for new competitors subsequently cooled. Open Standard previously claimed to have 140 partners, but Samsung and Dunamu subsequently distanced themselves from the project, calling into question the extent of their industry support.

On the same day, ARK Invest disclosed the purchase of approximately $17.8 million in Circle shares, which also supported market sentiment.

USDC supply has fallen slightly

Although the volume of transactions has remained in the lead, the volume of flows in USDC has declined slightly in the recent past. The market value of the Circle Stabilisation Currency fell from $73.75 billion on 30 June to $72.87 billion on 6 July, indicating a partial diversion of funds following the launch of the OUSD.

However, in terms of the level of trade activity, USDC maintains a clear advantage. For Circe, this means that, even in the face of new rivals, the core use has not been significantly reduced for the time being.