[Will the GENIUS Act take effect, and can Circle maintain its "digital dollar base"?]

On Thursday in the Eastern U.S., the House of Representatives officially passed the GENIUS Act, following the Senate's vote in June. The USDC issuer Circle(CRCL) is celebrating its compliance "coming of age". In just six weeks, the stock price surged from a peak of $31 at IPO to $298, then fluctuated in the range of $176–$227, and this week it rose again on the momentum of "Crypto Week".

Policy dividends are clear: the new legislation requires 1:1 reserves and segregated custody, to be overseen by the CFTC, opening compliant channels for USDC in cross-border payments, merchant settlements, and other scenarios. Meanwhile, Circle has recently partnered with Fiserv to launch FIUSD, accelerating the integration of traditional payments. However, valuation pressure is emerging. Since its IPO, CRCL has increased more than 7 times, and there are already voices in the Reddit and X communities calling to "sell the news"; the capital game will become more intense after the positive news materializes.

Options data shows that the 30-day implied volatility has reached 100%, but the IV Rank is only 11%, indicating that while volatility is high, its relative position is low; the Put/Call ratio is 0.52, indicating a bias towards bullish sentiment, but the near-term Max Pain is at $205, suggesting that the main players prefer to converge and oscillate, which may limit the short-term upward potential.

#Circle