<p><strong>Circle Internet</strong>（CRCL 0.26%）於 6 月 5 日上市，取得了立竿見影的成功，股價在幾周內上漲了 750%。隨後，熱潮消退，這家穩定幣公司股價暴跌超過 50%。</p>
<p>如果你錯過了首次公開募股（IPO），是否也錯過了購買 Circle 的機會？如果穩定幣市場如分析師預期那樣增長，那麼並沒有。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI3MjIvZ2V0dHlpbWFnZXMtMjE1NDY3ODM4My0xMjAweDgwMC01YjJkZjc5LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI3MjIvZ2V0dHlpbWFnZXMtMjE1NDY3ODM4My0xMjAweDgwMC01YjJkZjc5LmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>隨着穩定幣的普及，Circle 的收入可能會激增</h2>
<p>Circle 擁有簡單明瞭的商業模式。它發行穩定幣，其中最成功的是 <strong>USDC</strong>，並用儲備資金支持每個代幣。這些儲備大部分存放在美國國債中。Circle 的主要收入來源是從這些儲備中獲得的利息。在 2025 年前六個月，Circle 的總收入為 12 億美元，其中 96% 來自儲備收入。</p>
<p>截至 10 月 6 日，整個穩定幣市場的總值約為 3130 億美元，其中 USDC 佔 750 億美元。到本十年末，市場可能價值數萬億。<strong>花旗集團</strong> 上個月發佈了一份報告，預測穩定幣市場的基本情況為 1.9 萬億美元，樂觀情況為 4 萬億美元。</p>
<p>Circle 的股票迄今為止波動性很大，由於與加密市場相關，因此風險較高。不過，穩定幣市場正在獲得關注。如果對穩定幣的需求如預期那樣持續增長，Circle 將需要發行更多代幣並增強其儲備。這對其收入和股價都應該是有利的。</p>

CRCL

<p>Circle Internet Group 於 6 月 5 日上市，最初股價上漲 750%，但隨後下跌超過 50%。儘管經歷了這種波動，分析師預測穩定幣市場將顯著增長，可能在本十年末達到數萬億美元。Circle 的收入主要來自於儲備的利息，隨着對其 USDC 穩定幣需求的增加，收入可能會增長。花旗集團預測穩定幣市場價值將達到 1.9 萬億美元，樂觀情況下可達 4 萬億美元，這表明如果市場趨勢持續向好，Circle 的股價有可能反彈</p>

<p><strong>Circle Internet</strong>(CRCL 0.26%) went public on June 5 and had immediate success, with its share price rising by 750% in a few weeks. Then, the hype wore off, and this stablecoin company saw its stock plunge by over 50%.</p>
<div class="lb-trans"><p><strong>Circle Internet</strong>（CRCL 0.26%）於 6 月 5 日上市，取得了立竿見影的成功，股價在幾周內上漲了 750%。隨後，熱潮消退，這家穩定幣公司股價暴跌超過 50%。</p>
</div><p>If you missed the initial public offering (IPO), did you also miss your chance to buy Circle? Not if the stablecoin market grows like analysts are expecting.</p>
<div class="lb-trans"><p>如果你錯過了首次公開募股（IPO），是否也錯過了購買 Circle 的機會？如果穩定幣市場如分析師預期那樣增長，那麼並沒有。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI3MjIvZ2V0dHlpbWFnZXMtMjE1NDY3ODM4My0xMjAweDgwMC01YjJkZjc5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F832722%2Fgettyimages-2154678383-1200x800-5b2df79.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Circle's revenue could explode as stablecoin adoption rises</h2>
<div class="lb-trans"><h2>隨着穩定幣的普及，Circle 的收入可能會激增</h2>
</div><p>Circle has a straightforward business model. It issues stablecoins, with its most successful being <strong>USDC</strong>, and backs up each token with reserve funds. Most of these reserves are in U.S Treasuries. Circle's primary source of revenue is the interest it earns from these reserves. Over the first six months of 2025, Circle made $1.2 billion total, and 96% of that was reserve income.</p>
<div class="lb-trans"><p>Circle 擁有簡單明瞭的商業模式。它發行穩定幣，其中最成功的是 <strong>USDC</strong>，並用儲備資金支持每個代幣。這些儲備大部分存放在美國國債中。Circle 的主要收入來源是從這些儲備中獲得的利息。在 2025 年前六個月，Circle 的總收入為 12 億美元，其中 96% 來自儲備收入。</p>
</div><p>The total stablecoin market is worth about $313 billion, as of Oct. 6, and USDC makes up $75 billion of it. By the end of this decade, the market could be worth trillions. <strong>Citigroup</strong> released a report last month forecasting a $1.9 trillion base case for the stablecoin market, with a bull case of $4 trillion.</p>
<div class="lb-trans"><p>截至 10 月 6 日，整個穩定幣市場的總值約為 3130 億美元，其中 USDC 佔 750 億美元。到本十年末，市場可能價值數萬億。<strong>花旗集團</strong> 上個月發佈了一份報告，預測穩定幣市場的基本情況為 1.9 萬億美元，樂觀情況為 4 萬億美元。</p>
</div><p>Circle stock has been highly volatile so far, and since it's connected to the crypto market, it's risky. Still, the stablecoin market has been gaining traction. If demand for stablecoins continues to increase as projected, Circle will need to issue more tokens and bolster its reserves. That should be good for its revenue and likely its share price, as well.</p>
<div class="lb-trans"><p>Circle 的股票迄今為止波動性很大，由於與加密市場相關，因此風險較高。不過，穩定幣市場正在獲得關注。如果對穩定幣的需求如預期那樣持續增長，Circle 將需要發行更多代幣並增強其儲備。這對其收入和股價都應該是有利的。</p>
</div>

認為現在購買 Circle Internet Group 為時已晚？這裏有一個理由説明仍然有機會