Shares of stablecoin issuer Circle (CRCL) have surged more than 100% over the past month, turning what many investors once viewed as one of the most conservative corners of crypto into one of the market’s hottest trades.
The rally gained momentum Monday, with the stock climbing another 8% to $124.37, outpacing other crypto-linked equities. Meanwhile, Michael Saylor’s Strategy (MSTR) and crypto exchange Coinbase (COIN) are up 23% and 8.5% in a month, respectively.
The move also coincided with recent bullish analyst calls. Clear Street upgraded Circle to Buy from Hold and raised its price target to $136 from $92, while Mizuho also raised its price to $120 from $100, pointing to…
