Circle shares jump as earnings beat offsets revenue miss, Arc blockchain gains Wall Street backing
Shares jumped 10% in pre-market trading as the stablecoin issuer revealed institutional adoption for its layer 1 blockchain Arc.
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Summary
- Circle shares rose about 10% in premarket trading after second-quarter adjusted earnings beat expectations, even as revenue slightly missed Wall Street forecasts.
- USDC circulation grew 19% year over year to $73.3 billion and onchain transaction volume jumped 151 percent to $14.8 trillion, underscoring rising institutional use despite a slower crypto market.
- Circle detailed progress on its Arc blockchain network and Circle Payments Network.
