Circle (CRCL) Falls 17.55% to $62.63 on July 1 as Russell Index Removes Stock

According to BlockBeats and Bit.com market data, Circle (CRCL) shares fell 17.55% to close at $62.63 on Tuesday, July 1, marking a new historical low level. The decline was driven by two major factors: Russell index funds removed CRCL from Russell 1000 Growth and other major Russell growth indexes on June 26 after market close, triggering mechanical selling by passive funds and ETFs tracking these indexes. Additionally, competitive pressure mounted as newly launched stablecoin project Open Standard announced support from over 140 major enterprises including Visa, Mastercard, American Express, Stripe, BlackRock, Coinbase, Google, BNY Mellon, Standard Chartered, DBS, U.S. Bank, Shopify, DoorDash, and IBM.
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