Has Circle Internet Group's Stock Already Peaked?
In early June, Circle Internet Group (NYSE: CRCL) went public. It represents a new and exciting way to invest in crypto, with Circle having its own stablecoin, USDC (pegged to the U.S. dollar). It's one of the most popular stablecoins in circulation. And the money people pay for the coin enables Circle to then use those deposits to generate interest income. Not only is it a growth play in crypto, but its business model is also fairly safe -- Circle posted a profit last year.
As a result, investors have been feverishly buying shares of Circle. And although the stock has given back some gains, its valuation is still incredibly high right now. Has this hot new crypto stock already peaked, or can it still make for a good addition to your portfolio today?
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Source Fool.com
