Circle's stock, CRCL, continues to soar, nearly quadrupling its initial public offering (IPO) price of $31. By Friday afternoon, the share price reached a high of $123.51, reflecting a significant rise from its opening value. Following its IPO, Circle achieved a market capitalization of approximately $21.7 billion, driven by increased investor interest amid a rebound in Bitcoin prices. Bitcoin climbed above $105,000 after briefly falling below $101,000, further boosting investor enthusiasm in the cryptocurrency sector. Analysts express caution, suggesting that potential buyers should wait until after the lockup period to avoid an influx of selling pressure from insiders. Despite its impressive debut, concerns remain regarding Circle's revenue dependence on interest income from cash backing its stablecoins. Overall, the market's response demonstrates strong confidence in Circle's position in the evolving crypto landscape and stablecoin market.

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