Circle Stock Surges Against Trend, Touching $100 for the First Time Since Late 2025

TradingKey - Three major U.S. indices tumble collectively, but Circle's stock price bucks the trend and surges; what is the outlook?

On Tuesday, March 3 ET, escalating tensions in the Middle East triggered a collective plunge in the three major U.S. indices, but leading stablecoin stock Circle ( CRCL) continued its rally, surging nearly 4% and briefly topping the $100 mark, reaching a high of $104, its highest level since November 2025.

Circle stock price chart, source: TradingView

Circle went public last June, and its stock price climbed steadily to a peak near $300. However, as the Federal Reserve cut interest rates and industry competition intensified, Circle's share price continued to pull back, hitting a low of $50 on February 5 this year, representing a maximum drawdown of over 80%.

On February 25, Circle announced fourth-quarter 2025 results that beat expectations across the board, fueling a 35% surge in its stock price that day. Recently, the U.S.-Iran war has driven up oil prices and dampened expectations for Fed rate cuts, helping Circle earn more interest income from stablecoins.

However, in the view of Mizuho Bank analysts, while the absence of rate cuts supports Circle's interest income, regulatory clarity for stablecoins will intensify industry competition and squeeze profit margins, hindering further stock price gains. Currently, Mizuho has a price target of $100 for Circle, suggesting its stock price could see a correction.