CRCL Stock Surges 6% to $73.35 After Bitwise Research Head Calls Token Mispriced

Circle shares jump over 6% to a high of $73.35 with an $18B market cap, following Bitwise research head's claim that the firm is undervalued amid stablecoin growth.

Woofun AI reports that Circle Internet Group's CRCL stock rose by more than 6% during trading hours, hitting an intraday high of $73.35 and valuing the company at approximately $18 billion.

Ryan Rasmussen, head of research at Bitwise Asset Management, recently asserted that the market underestimates Circle's potential as the stablecoin sector expands toward a trillion-dollar valuation. He characterized the firm as a future leader in stablecoins and a major force in the payments industry.