According to @nic__carter, stablecoin issuer Circle's stock (CRCL) has surged over 750% since its IPO, hitting a record high near $299. The rally pushed Circle's market capitalization to a peak of approximately $60 billion, nearly matching the $61.3 billion supply of its USDC stablecoin and approaching the $78 billion valuation of crypto exchange Coinbase (COIN). A key catalyst for this growth is cited as the U.S. Senate's advancement of the GENIUS Act, which provides a regulatory framework for stablecoins. However, some analysts, like Jon Ma, CEO of crypto analytics firm Artemis, warn the rally may be outpacing fundamentals. Ma highlighted Circle's extremely high valuation multiples, such as trading at 32 times its revenue and 285 times its earnings, suggesting limited upside. USDC remains a cornerstone of the crypto ecosystem, widely used in trading pairs like BTC/USDC and ETH/USDC and across decentralized finance (DeFi) protocols.

According to Ki Young Ju (@ki_young_ju), Circle’s price-to-earnings (P/E) ratio has soared to 2,950x, compared to Coinbase’s 58x, highlighting a significant valuation gap between major crypto companies. This extreme P/E ratio signals heightened market expectations for Circle and its USDC stablecoin, affecting investor sentiment across crypto equities and stablecoin-related assets. Traders should note that such stretched valuations may lead to increased volatility and potential corrections as the market reassesses growth prospects, according to the data shared on Twitter.

According to Cas Abbé on Twitter, Binance's spot and futures trading volume is reported to be 40 times higher than Coinbase, yet Binance's token (BNB) is valued at $95 billion, compared to Coinbase's $62 billion valuation with $1.5 billion in trading volume (Source: Cas Abbé, June 1, 2025). This significant discrepancy in trading activity versus token valuation suggests that BNB may be undervalued relative to its trading volume, which could present a trading opportunity for cryptocurrency investors. The comparison of BNB as a potential $1 trillion asset trading at a 10x discount is especially relevant for traders seeking assets with growth potential based on exchange activity metrics.