Circle Internet Financial is one of Wall Street’s top stocks in 2026, and Bernstein analysts believe that this rally could continue as stablecoin adoption accelerates.
In a recent note to clients, Bernstein reiterated his “Outperform” rating on CRCL stock and set a $190 price target, which typically reflects analysts’ expectations for the stock over the next 12 months.
Despite the volatile finish to 2025, Circle shares appear to have diverged from the broader cryptocurrency market, which has been under pressure since October following a deleveraging event.
The share price has more than doubled since the bottom in early February of this year. Shares closed Tuesday at $118.17, up 5.7%, giving the company a market capitalization of about $30.3 billion.
Circle shares are now up nearly 49% year-to-date, outperforming the S&P 500, while the Nasdaq 100 is down about 1% over the period.
Based on Bernstein’s price target, Circle shares are still 60% above current levels.
related to: Circle moves into privacy-focused stablecoin project USDCx
Stablecoin adoption drives high prospects for Circle
Bernstein’s bullish outlook for Circle is largely due to the rapid adoption of stablecoins, especially as businesses get clearer rules on how to use digital dollars in the United States.
This clarity coincided with the GENIUS Act of 2025, which established a common federal regulatory framework for stablecoins. The law establishes reserve-backing, disclosure, and oversight standards that provide companies with clearer guidelines for issuing and using dollar-linked tokens.
The circle directly benefits from this shift. According to DeFiLlama, USDC (USDC) is the second largest stablecoin in the world with about $78 billion in circulation, which is about a quarter of the global stablecoin market.
Circle has also gained credibility among traditional financial institutions. The company went public in 2025 and is working with several major Wall Street firms.
BlackRock manages the Circle Reserve Fund, which holds most of the USDC-backed assets, while BNY Mellon serves as the primary custodian of those reserves. Circle has also attracted investment from major institutions including Fidelity and Goldman Sachs, reflecting the growing interest in stablecoin infrastructure from traditional finance.
related to: Crypto Investment Playbook 2026: Bitcoin, stablecoin infrastructure, tokenized assets
