Shares of Circle (NYSE: CRCL) fell 2.54% on July 31, closing at $62. The drop marked the end of a bearish month for the company, with the stock posting its biggest monthly decline in history.
A $400 billion market rout
The broader crypto market lost $400 billion in value during July, dragging down major tokens and related equities. Circle’s stock decline came as investors digested the steep sell-off across digital assets.
USDC holds 62% of stablecoin volumes
Despite the market turmoil, Circle’s USDC stablecoin maintained a dominant position. It accounted for 62% of all stablecoin transaction volumes during the month, according to the data. That share underscores the token’s role as a key liquidity bridge in crypto markets, even as prices fell.
The company has not commented on the stock’s performance or the broader market decline. Circle’s shares have been volatile since its listing on the New York Stock Exchange, and July’s slide adds to pressure on the firm to show resilience in a downturn.
