Odaily Planet Daily reports that Circle, a stablecoin issuer, reported adjusted second-quarter profits exceeding expectations, with its stock rising approximately 10% in pre-market trading. During the same period, USDC’s circulating supply increased 19% year-over-year to $73.3 billion, while revenue slightly missed market expectations. Circle noted that its on-chain transaction volume surged 151% year-over-year to $14.8 trillion, indicating increased institutional adoption. The company also provided updates on the Arc blockchain network and the Circle Payments Network.
Circle Q2 Adjusted Earnings Exceed Expectations, USDC Circulation Reaches $73.3 Billion
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Summary
Circle reported Q2 adjusted earnings above expectations, with USDC circulation reaching $73.3 billion, a 19% year-over-year increase. On-chain data showed on-chain transaction volume surged 151% to $14.8 trillion. Revenue slightly missed forecasts. The company also provided updates on the Arc blockchain network and Circle Payments Network, signaling an upcoming network upgrade.
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