Analysis: Circle's valuation exceeds $60 billion, shifting focus in the cryptocurrency market According to the latest data from Matrixport, Circle's valuation has reached $60 billion, which is roughly on par with its total circulating USDC ($61.2 billion) and has remained stable over the past three months. In contrast, Coinbase's current market value is $78.3 billion, reflecting a shift in market attention from diversified trading platforms to core cryptocurrency infrastructure enterprises such as stablecoin issuance. Analysis suggests that capital is accelerating its flow towards infrastructure based cryptocurrency companies, and the recent IPO boom further confirms the continued increase in institutional funding. This trend is also seen as one of the important supporting factors for Bitcoin to maintain its strength in 2025, although the market may still face consolidation in the short term.