Top 20 US Stock Trading Volumes: Circle Stock Surges Nearly 34%
On Wednesday, Tesla, the top-traded stock, closed up 1.80% with a trading volume of $30.519 billion. Moneta Markets’ Yihui stated that recent controversies surrounding Musk’s political involvement and strategic shifts are significantly impacting Tesla’s brand reputation and market performance.
Facing fierce competition from BYD, XPeng, and Li Auto, Tesla is losing its leadership in the electric vehicle sector, with declining market share, consumer sentiment, and stagnant product innovation, casting uncertainty over its future.
Additionally, Musk on Wednesday refuted news reports claiming that his AI startup xAI is “currently burning $1 billion monthly, with AI model development costs far exceeding revenue growth.”
Nvidia, the second most-traded stock, closed up 0.94% with a volume of $23.237 billion. TerraPower, founded by Bill Gates, announced on Wednesday that it completed a new $650 million funding round. The company disclosed that, alongside continued investments from Gates and South Korea’s Hyundai Heavy Industries, Nvidia’s venture capital arm, NVentures, has become a new shareholder.
Circle, the third most-traded stock and leading stablecoin issuer, surged 33.82%, marking its largest single-day gain since its US IPO on June 5, with a volume of $10.692 billion. The US Senate’s passage of a stablecoin bill boosted Circle and other cryptocurrency-related stocks.
Coinbase Global, fourth in trading volume, soared 16.32% with a volume of $10.425 billion. Following the Senate’s stablecoin bill passage, Coinbase launched Coinbase Payments, a stablecoin payment solution for commercial platforms, supporting global 24/7 settlements via USDC, already integrated with Shopify.
Coinbase Payments aims to reduce platforms’ reliance on blockchain technology, enabling PSPs, marketplaces, and e-commerce infrastructure to quickly adopt stablecoin payments with low-cost integration, no additional merchant deployment needed, and plans to support programmable incentives in the future.
Amazon, fifth in volume, fell 1.07% with a trading volume of $9.441 billion. Amazon CEO Andy Jassy admitted that as more tasks are handled by generative AI tools and AI agents, the company’s future workforce size may significantly shrink.
In a memo to employees on Wednesday, Jassy stated that the company expects “fewer people will be needed to perform certain current roles, while demand for other types of roles will increase.” He added that, while it’s hard to predict the long-term net effect, he is almost certain AI will ultimately “reduce our corporate headcount.”
The CEO told employees they need to figure out how to use AI tools to “accomplish more with leaner teams.”
Microsoft, seventh in volume, rose 0.46% with a trading volume of $8.371 billion. Reports on Wednesday indicated Microsoft is prepared to walk away from negotiations with OpenAI. If the two parties cannot agree on key issues, such as Microsoft’s future stake in OpenAI, Microsoft has considered pausing its complex discussions with OpenAI.
Microsoft stated it will act in “good faith,” and both sides meet daily to try to devise a plan, hoping to reach an agreement. “We have built a long-term, productive partnership that has delivered exceptional AI tools for everyone,” Microsoft and OpenAI said in a joint statement. “Negotiations are ongoing, and we are optimistic about continuing to grow together in the coming years.”
Palantir, eighth in volume, rose 1.27% with a trading volume of $8.057 billion.
Google, twelfth in volume, fell 1.83% with a trading volume of $5.661 billion. Google announced on Wednesday a significant expansion of its Gemini AI model family. After months of tuning and optimization, the high-performance Gemini 2.5 Pro is set to exit preview mode and become officially available for developers.
Meanwhile, Google showcased the upcoming high-efficiency model Gemini 2.5 Flash-Lite. Despite efforts to improve, Google has not escaped its confusing model naming conventions.
Marvell Technology, fifteenth in volume, surged 7.09% with a trading volume of $4.149 billion. The stock hit a three-month high during Wednesday’s session. Bank of America raised Marvell Technology’s price target from $80 to $90, maintaining a “Buy” rating.
Mastercard, sixteenth in volume, fell 5.39% with a trading volume of $3.804 billion. Financial data shows that as of March 31, 2025, Mastercard’s total revenue was $7.25 billion, up 14.21% year-over-year; net income attributable to shareholders was $3.28 billion, up 8.93%. Mastercard will release its 2025 fiscal year mid-term report on July 30.