CRCL surges 9%—Legislative tailwinds ignite the crypto sector

USDC issuer Circle Internet Group (CRCL US) saw its stock jump 12.09% in a single day on April 13, closing at $98.68, with trading volume significantly expanding to about 13.57 million shares. The direct catalyst behind the stock breakout was the reopening of the CLARITY Act legislative window after the Senate ended its two-week Easter recess and fully resumed its agenda.

As the issuer of the world’s second-largest stablecoin, USDC, Circle’s business highly depends on regulatory clarity. The market broadly expects that after the CLARITY Act is passed, it will provide clear issuance, reserve, and disclosure rules for stablecoins, significantly reducing compliance costs and paving the way for further expansion of USDC’s circulation. The latest data shows that USDC’s circulation has neared or exceeded $78 billion, and in 2026 the one-week minting volume on the Solana chain at one point reached $3.25 billion, setting a new intra-year high, reflecting that institutional and corporate demand for compliant stablecoins remains strong.

Notably, this rally occurred against the backdrop of Compass Point downgrading Circle’s rating from “Neutral” to “Sell” and sharply lowering its target price to $2, showing that legislative progress has an overwhelming impact on market sentiment.
#Gate广场四月发帖挑战