Circle Shares Plummet 8.4 as $2.23B Volume Surges 107% to 33rd Rank Amid Coinbase Gains

On August 1, 2025, Circle (CRCL) reported a 8.40% decline in its stock price, with a trading volume of $2.23 billion—a 107.2% increase from the prior day, ranking 33rd in market activity. The move followed mixed signals from Coinbase’s earnings report, which highlighted a $1.5 billion unrealized gain from its stake in Circle, alongside $332.5 million in stablecoin revenue linked to Circle’s June IPO. These figures underscored Circle’s role as a key revenue driver for Coinbase, despite broader market challenges.

Coinbase’s second-quarter performance revealed a 40% drop in trading volumes, partly attributed to reduced crypto volatility and shifting macroeconomic factors. However, its strategic investment in Circle and stablecoin revenue-sharing agreements—where Coinbase retains 100% of USDC revenue on its platform—highlighted Circle’s significance in stabilizing Coinbase’s income streams. Analysts noted that while Coinbase’s core trading metrics weakened, its exposure to Circle’s stablecoin growth provided a counterbalance, potentially influencing investor sentiment toward Circle’s stock.

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