Circle shares rose dramatically on their first day of trading on the NYSE, starting at around $69—over double the IPO price of $31. The stock peaked at $103.75 before closing at $82, a 167% increase from the IPO and 20% from the opening price. The oversubscription of the IPO—reported at 25 times—illustrated strong institutional interest, with analysts citing a growing demand for crypto equities among both investment groups and retail investors. Despite a broader sell-off in the crypto market, Circle's performance highlighted its significance as a stablecoin issuer, boasting a market cap of about $62 billion for its USDC stablecoin, which is approximately a quarter of the total stablecoin market. Analysts noted that the success of this IPO may spark further interest and potential public offerings in the crypto sector, anticipating a surge in institutional attention towards stablecoins and crypto equities going forward.

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