Circle's stock price once approached $300, up 20%, and its market value surpassed its own stablecoin USDC

According to the latest data from Yahoo Finance, after the U.S. stock market opened on the 23rd, Circle's stock (CRCL), the issuer of the U.S. dollar stablecoin USDC, jumped again, approaching $300 and rising over 20%. Although selling pressure emerged later, it closed at $263.45, still showing a strong performance of 9.64%. It is worth noting that CRCL's current market value has reached $63.8 billion, while according to CoinGecko data, Circle's stablecoin USDC currently has a market value of around $61.28 billion. This means that since its IPO on June 5th, CRCL has taken less than 20 days to surpass the market value of its own second-largest stablecoin. Currently, the stablecoin leader Tether's USDT has a market value of $156 billion. If CRCL can double again, its market value would be comparable to USDT. However, just as the market heat continues to rise, ARK Invest led by Cathie Wood sold a total of 1.25 million shares last week, cashing in $243 million, which has attracted market attention about whether the peak has been reached. ARK sold stocks on June 16, 17, and 20th: multiple funds sold 342,700, 300,100, and 609,200 shares respectively, with daily amounts ranging from $44.7 million to $146 million (accumulating about $243 million), reducing the original position by about 29%. However, according to Bloomberg data, ARK still holds about 3.2 million shares, with a market value of $750 million, ranking eighth among Circle's top ten shareholders. CRCL remains the largest holding in ARK W Fund, with a weight of about 7.8%.