I talked to the former Baidu PR director about why Circle has been rising so sharply recently 1. Exclusive compliance dividend, 100% cash+top issuer of US bonds. After listing, USDC's market share increased from 29% to around 40% due to capital market effects, and the longer the time, the stronger the market benefits will be 2. Most of Circle's income does not come from the currency circle. The currency circle is just one of its carriers. Since they are truly compliant, the market they want to do must be non currency circle. USDC has about 50 billion cash reserves, and this money will be a large amount of income if it only buys treasury bond 3. The global cross-border payment scale is 200 trillion yuan, and we only calculate that stablecoins have reached 1% of the scale, which is enough for USDC to eat 4. It is well known that Circle is a stablecoin supported by Coinbase, and the entire US capital behind Circle and Coinbase, including BlackRock, Fidelity, Visa, BlackRock, etc. If you cannot see USDC clearly, you cannot see the group of wolves on Wall Street who are united Recently, Alibaba and JD.com have been actively laying out the stablecoin track. The listing of USDC has shown them that the payment scene has broken through the circle. The listing of USDC can be seen as a transformation from the cryptocurrency circle to the traditional circle. People who buy US stocks are betting that USDC will occupy a place in traditional cross-border payments If you only focus on the cryptocurrency circle, then your vision is too narrow. If you place your vision on the global market, it is reasonable for Circle's valuation to reach its current level