USDC Transaction Volume Doubles, Overtaking USDT... Circle (CRCL) Enters Decisive Phase to Break $71

▲ Circle (CRCL), USDC, Tether, USDT, Stablecoin/AI Generated Image

USDC recorded a transaction volume of $1.21 trillion in June, more than double that of Tether's USDT. With 67% of the stablecoin transaction volume captured, Circle (CRCL) stock rebounded from the $62 support level and entered a decisive phase that will determine whether it breaks through $71 and potentially rises to $83.

According to crypto news outlet Coingape on July 6 (local time), Zach Pundl, Head of Research at Grayscale, stated that stablecoin transaction volume reached an all-time high of $1.78 trillion in June 2026. Visa data showed USDC transaction volume at $1.21 trillion, accounting for 67% of the total. This amount is more than double that of its biggest competitor, Tether's USDT, which recorded $573 billion in transaction volume.

In terms of transaction count, USDT was ahead. USDT transaction count was 145 million, surpassing USDC's 57 million. USDC's transaction volume dominance comes amid concerns that Circle's market share might falter after the launch of OUSD. Despite Open Standard's claims of securing 140 partners, Samsung and Dunamu distanced themselves from the project, easing bearish pressure surrounding CRCL.

On June 30, CRCL fell to the $62 support level, recording its largest bearish candle since March 2026. After its exclusion from several Russell indices, there was a surge in selling, but it rose 4% to close at $64 on July 2, and before market open on July 6, it was up 3.4% at $66. Technically, a break above the Bollinger Band midline of $71 is needed to confirm that buying pressure has taken control.

The Relative Strength Index (RSI) was 36, indicating a bearish trend despite the recent rebound. If buying pressure increases, breaking the $71 resistance and pushing RSI above 50, the upper Bollinger Band of $83 is suggested as the next price target. Conversely, Jefferies advised investors to avoid buying CRCL on July 2, stating that OUSD could weaken Circle's stablecoin market share.

On the same day as Jefferies' warning, ARK Invest purchased $17.8 million worth of Circle stock. USDC's market capitalization decreased from $73.75 billion on June 30 to $72.87 billion, indicating some fund movement since the launch of OUSD. While USDC led the stablecoin market with $1.21 trillion in transaction volume, CRCL's technical turning point is set at $71, with an additional upside target price of $83.

[Article Summary]

-USDC recorded a transaction volume of $1.21 trillion in June, accounting for 67% of the total stablecoin transaction volume.

-USDC's transaction volume was more than double USDT's $573 billion, but USDT led in transaction count with 145 million.

-For CRCL, if it breaks $71 and RSI recovers to 50, the upper Bollinger Band of $83 is suggested as the next price target.

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