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Circle, Coinbase lead crypto stocks rally amid Clarity Act progress, bitcoin hitting $80,000

The market is starting to price in potential winners as stablecoin yield compromise opens path for passing key U.S. digital asset regulation, one analyst said.

By Krisztian Sandor|Edited by Aoyon Ashraf May 4, 2026, 5:34 p.m. 2 min readMake preferred on Jeremy Allaire, Co-Founder, Chairman and CEO, Circle Speaks at Hong Kong Fintech Week in 2024 (HK Fintech Week)

What to know:

• Crypto stocks gained Monday across the board as bitcoin topping $80,000 boosts sector.
• Stablecoin issuer Circle (CRCL) surged 18% as compromise about stablecoin yield spurs optimism in passing key crypto legislation.
• Equity markets begun to pick "potential winners," with Circle seen as beneficiary of clearer rules, 10x Research founder Markus Thielen said.

Crypto-related stocks rallied Monday, led by Circle (CRCL) and Coinbase (COIN), as progress on U.S. digital asset legislation and bitcoin BTC$79,803.41 breaking above $80,000 lifted sentiment across the sector.

Circle, issuer of the USDC stablecoin, surged 18%, extending recent gains, while U.S.-focused crypto exchange Coinbase rose about 7%. BitGo (BTGO), a digital asset infrastructure firm offering custody and stablecoin services, climbed roughly 10%.

Strategy (MSTR), the largest corporate bitcoin holder, crypto-friendly digital broker Robinhood (HOOD) and Ethereum (ETH) treasury firm Bitmine (BMNR) were also up 3%-4%, underscoring the broad-market advance.

The move came as bitcoin BTC$79,803.41 pushed above $80,000 during the session, reaching its strongest level since late January and providing a tailwind for the broader crypto sector. BTC advanced nearly 2% over the past 24 hours, leading the broader crypto benchmark CoinDesk 20 Index's 1.2% gain.

Further boosting investor optimism were signs that the long-debated Digital Asset Market Clarity Act, a key piece of U.S. legislation to regulate crypto markets, is moving closer to passage.

A newly released compromise would prohibit stablecoin issuers from offering yield on idle balances, while still allowing rewards tied to usage and transaction activity, according to a Friday text. The approach addresses one of the most contentious aspects of the bill and aligns with earlier discussions in Washington.

Clarity Act progress

That clarification appears to be a pivotal moment that brings the bill closer to passage, according to Markus Thielen, founder of 10x Research.

"The latest compromise removes one of the final obstacles for the legislation,” said Thielen in a Telegram message. With the stablecoin yield issue addressed, lawmakers are expected to move toward a formal markup, potentially as soon as this week, he added.

Odds of passage on the prediction platform Polymarket have risen to 64%, reflecting growing confidence that the bill will advance.

Polymarket odds of Clarity Act passing this year (Polymarket)With that, "equity markets are beginning to price in potential winners," Thielen said.

Circle, as a regulated stablecoin issuer, is widely seen as a potential beneficiary of clearer rules, particularly if stablecoins are formally positioned as payment tools rather than yield-bearing assets, he said.

The firm's upcoming earnings, due next week, adds another layer of momentum for the stock, Thielen noted.

After releasing last quarter's report in February, Circle's shares surged around 100% in the following weeks, and investors may have started to position for further gains ahead of earnings.

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