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

ReutersMar 13, 2026 2:59 PM

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

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