USDC issuer Circle has seen its stock price soar on its second day of trading, reaching a high of $123.51 and nearly quadrupling its initial public offering (IPO) price of $31. The stock's performance follows a strong IPO that raised nearly $1.1 billion, providing Circle an initial market cap of $18.4 billion. Bitcoin's recent rebound above $105,000 also contributed to the favorable market conditions for Circle's stock. Analysts advise caution for retail investors considering buying in after the initial price surge, as market trends may change once the lockup period for early investors expires. Circle's position in the market appears strong, coinciding with supportive legislative developments like the GENIUS Act, which aims to create guidelines for stablecoin issuers. The positive momentum is seen as a significant moment for stablecoins as they gain traction in U.S. financial markets.

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