Circle Internet Group (CRCL) shares saw a significant rally on Friday, November 28, 2025, with the stock price increasing by over 10%. [2, 5, 7] The primary catalyst for this surge was the minting of 500 million USD Coin (USDC) on the Solana network, which was interpreted as a sign of growing demand and expansion for Circle's stablecoin. [2] The positive momentum was also fueled by recent difficulties for its main competitor. Earlier in the week, S&P Global downgraded Tether (USDT), citing concerns over its reserve quality. [2] This development appears to have bolstered investor confidence in Circle's more regulated approach, contributing to the stock's strong performance as the market recovered from a recent downturn. [7]