Circle Internet Group (NASDAQ:CRCL) surged 9.74% to $111.84 Monday as Bernstein reiterated its $190 price target, implying 70% upside from current levels as stablecoin adoption accelerates for payments and AI agents.
The Stablecoin Adoption Thesis
Bernstein analysts highlighted that stablecoins are increasingly diverging from the broader crypto market cycle.
USDC supply stands at about $78 billion in circulation, reaching new highs despite Bitcoin (CRYPTO: BTC) trading significantly below its previous peak.
Tether’s (CRYPTO: USDT) supply stands at about $184 billion.
Total stablecoin transaction volume hit $55 trillion in 2025, up 98% year-over-year.
The adjusted figure stripping out bots and high-frequency trading reached $11 trillion, growing 91%. Payment activity alone totaled roughly $375 billion in 2025, up 76% from the previous year.
Consumer-to-business payments surged 131%, driven by increasing payment activity and faster transaction velocity.
“Stablecoin adoption has remained persistent independent of crypto market sentiment,” Bernstein wrote, pointing to the asset class’s growing role as “global digital dollar banking” infrastructure.
The Cross-Border Infrastructure
Visa (NYSE:V) now supports more than 130 stablecoin-linked cards across 50 countries, processing roughly $4.6 billion in annualized settlement volume.
Circle is expanding its infrastructure through the Circle Payments Network, enabling institutions to send USDC transfers that convert into local currency payouts.
The network currently supports corridors across the EU, Singapore, India, the Philippines, and the United States, with about 55 institutions enrolled and an annualized volume of $5.7 billion as of February 2026.
The AI Agent Opportunity
Bernstein highlighted emerging opportunities such as machine-to-machine payments for AI agents, which could rely on stablecoins to facilitate micropayments for APIs and digital services.
“We believe Circle is a long-term category winner,” the analysts said, citing regulatory positioning, exchange partnerships, and growing global payments network.
The 110% Rally
CRCL staged a V-shaped reversal off late-January lows near $55, surging nearly 110% in roughly five weeks.
Price reclaimed all three key EMAs in rapid succession: 20 EMA at $87.48, 50 EMA at $81.40, and 100 EMA at $91.81.
The stock broke cleanly above the descending trendline from November highs and is now pushing into the $113-$120 horizontal resistance zone.
The speed of the move suggests strong accumulation rather than a dead-cat bounce.
RSI at 77.28 sits in overbought territory above its signal line at 64.83, warranting caution for new entries.
However, in strong trending moves, RSI can remain elevated for extended periods. A daily close above $120 opens a measured move toward $155-$160.
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This article Circle Surges 110% In 5 Weeks—And Bernstein Says 70% More Upside Is On The Table originally appeared on Benzinga.com
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