Is the market value of a stablecoin issuer actually higher than the coins it issues?! Circle's market value exceeded 77B during the 6/24 trading session, far exceeding USDC's circulation of approximately 61B Is it an emotional foam or a business model revaluation? The value of Web3 infrastructure is beginning to 'detach' from the USDC ontology, with on chain settlement, cross-border payments, compliance services The market may be looking at the 'next Visa+Swift'. Stablecoin Circle USDC