Circle is now $70B+ in enterprise value.

Meanwhile:
- Tron Stablecoin Supply hit an ATH of $79.1B growing +38% YoY
- USDC Stablecoin Supply hit an ATH at $60.6B growing +90% YoY

Stablecoins are continuing to reach ATH.

It's no surprise there's so much demand from institutional investors exposure to this trend.

Follow the onchain stablecoin KPIs.

Circle is now a ~$74 billion enterprise value.

Circle is now more valuable than Robinhood ($68 billion), Nubank ($59 billion), Block ($38 billion), and just $4 billion shy of Coinbase ($78 billion).

Circle now trades at:
- 32x revenue
- 80x gross profit
- 152x EBITDA
- 285x earnings

In comparison, USDC has a $60 billion market cap, growing 90% YoY.

We'll soon be able to estimate Q2'25 Circle numbers based on onchain stablecoin supply.