Circle Internet Corp.（股票代码：CRCL）今日夜盘出现大幅下跌，跌幅达5.59%。
消息面上，公司此前发布的第一季度财报显示，其营收为6.94亿美元，虽然同比增长20%，但低于市场预期的7.15亿美元，未能达到分析师预测。同时，公司持续经营业务的净利润仅为5500万美元，同比出现明显下滑。此外，Circle的收入结构高度依赖储备收入（占总营收94%），而该收入与利率环境紧密相关，市场对降息的预期构成了核心风险。
尽管公司在业务层面有积极进展，如USDC流通量增长、链上交易量暴增以及新业务拓展，但其当前股价对应的市盈率高达约151倍，远高于传统支付巨头20至30倍的水平。营收不及预期与高估值的组合，持续对股价形成压制，导致了夜盘的显著下跌。
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