Jeremy Allaire, Co-founder and CEO of Circle, has stated that stablecoins represent the highest utility form of money ever created, emphasizing their programmability, speed, and borderless nature. While the stablecoin industry has yet to reach its so-called "iPhone moment," Allaire believes this breakthrough is imminent. This moment would see developers fully unlocking the potential of programmable digital dollars, similar to the transformative impact of mobile apps on smartphones. The stablecoin market has seen substantial growth, with Circle's stock market capitalization exceeding $34 billion, which is more than half of the $61.5 billion market cap of USDC, Circle's flagship stablecoin. Circle reported earnings of approximately $200 million in 2024 after incentives, and its stock price has surged fivefold since its IPO last week. The stablecoin market currently handles around $33 trillion in volume, attracting interest from major retail players. The anticipation around the stablecoin sector is further heightened by the recent passage of the GENIUS Act by the US Senate, which market participants expect to impact the industry positively. Despite the enthusiasm for Circle, some analysts highlight that Ethereum remains the primary infrastructure supporting most future stablecoin issuers.