Circle (USDC) Stock Rises 4% After Analyst Upgrade Fueled by Polymarket Growth

Shares of Circle, the company behind the USDC stablecoin, climbed 4% following a positive analyst upgrade. The upgrade was primarily driven by significant growth in USDC's usage on the prediction market platform Polymarket. Analysts highlighted that the increased adoption of USDC for betting and settlements on Polymarket demonstrates the stablecoin's expanding utility beyond traditional finance. This surge in real-world application is seen as a key metric for evaluating Circle's ecosystem strength and future revenue potential. The market's reaction underscores growing investor confidence in Circle's business model as USDC competes in the stablecoin sector.