Two Major News Events Lead to a 17.55% Plunge in CRCL, Closing at $62.63 in the Historical Low Range

BlockBeats News, July 1st, according to Bit.com market data, one of the leading US stock crypto concept stocks, Circle (CRCL), experienced a sharp decline of 17.55% on Tuesday's trading day, with a closing price of $62.63, reaching a historical low.

On the news front, the new stablecoin project Open Standard announced support from over 140 companies, including Visa, Mastercard, American Express, Stripe, BlackRock, an exchange, Google, BNY Mellon, Standard Chartered, DBS, U.S. Bank, Shopify, DoorDash, IBM, and more, covering payment giants, traditional banks, asset management, crypto-native companies, and tech platforms. The company will launch the stablecoin - Open USD, later in 2026, and will be deployed on multiple chains including Base (an exchange), Solana, Stellar, Polygon, and Ripple.

Furthermore, the news of CRCL's removal from the Russell Index is also gaining traction. It is reported that the Russell Index underwent adjustments after market close on June 26th, with CRCL (Circle Internet Group, NYSE: CRCL) being removed from several major Russell growth indices, including the Russell 1000 Growth. Passive funds/ETFs tracking these growth indices will mechanically adjust, leading to the selling of CRCL shares.