Mizuho raises Circle's PT as co's stablecoin overtakes Tether's in transaction volume

Circle Internet

13/03/2026 14:59

** Shares of stablecoin issuer Circle Internet Group CRCL.N rise 1.65% to $115.90

** Mizuho raises PT to $120 from $100, a 5% upside to stock's last close

** Says Circle's stablecoin USDC's transaction volumes surpassed Tether's USDT for the first time since 2019

** USDC accounted for 64% of the combined USDC-USDT transaction volume so far in 2026, vs. 30% on average between 2019-2025 - Mizuho

** "We believe that longer term, the stablecoin winner will be the one mostly used in everyday economic activity, rather than just highest market cap" - Mizuho

** Adds: "Looking at transaction volumes, we are encouraged to see USDC taking more share of the total pie"

** 12 of 27 analysts rate stock "strong buy" or "buy", 14 "hold" and 1 "strong sell"; median PT is $108.50 - data compiled by LSEG

** Including session's moves, CRCL up 48.6% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))