Circle Internet Group in Focus as USDC Supply Shrinks Ahead of Earnings
Circle, the second-biggest company in the stablecoin industry, will be in the spotlight as it publishes its financial results. These results come at a difficult time for the company as the USD Coin (CRYPTO: USDC) supply continues to shrink.
USDC’s supply has dropped from nearly $80 billion to $71.9 billion. This retreat will have an impact on its revenue since it makes its money by investing the USDC supply in short-term government bonds. The falling USDC supply will likely be offset by the rising US bond yields after the Fed interest rate decision.
Analysts expect the company’s earnings to show that its revenue rose by 9% in the second quarter to $717 million….
