Circle’s stock token rose 10.8% today, with trading volume topping 107 million, ranking first among U.S. stock tokens and leaving the next few far behind. It’s the stablecoin company that issues USDC. Overnight, U.S.-listed crypto treasury stocks led the gains: Circle’s actual shares rose more than 9%, and Coinbase gained over 6%. Crypto itself couldn’t get moving, but stocks tied to stablecoins were snapped up first. It looks a little odd; we’ll know whether this trend continues when U.S. markets reopen tonight.