Circle, the issuer of USDC, has seen its stock price soar, nearing a quadruple increase on its second trading day. After initially pricing shares at $31 for its IPO, the stock surged to a high of $123.51, just shy of quadrupling its initial price. This significant rise is attributed to heightened investor interest following Circle's successful debut on the New York Stock Exchange. As of now, the company's market capitalization stands at $21.7 billion. The stock's increase coincides with Bitcoin's bounce back above $105,000, returning from a brief dip. Some analysts caution retail investors about potential volatility following this rapid price surge. Circle's revenue heavily relies on interest earned from cash reserves backing its stablecoin, raising concerns over future performance amid fluctuating interest rates.

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