Circle reported better-than-expected second quarter results with adjusted EPS of 18 cents, beating the 16-cent consensus, despite revenues of $701 million slightly missing the $713 million forecast. The stock surged 5% in pre-market trading following the release. USDC supply reached $73.3 billion, marking 19% year-over-year growth, while on-chain transfer volume jumped 150% to $14.8 trillion. The company is launching its Arc blockchain publicly on September 16, with over 100 institutions including BlackRock, BNY Mellon, and Standard Chartered building on the chain. Despite Morgan Stanley’s bearish $38 price target, analyst consensus stands at $104, implying 64% upside potential, with Bernstein projecting a high of $140.
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