Circle, the issuer of the stablecoin USDC, saw its stock price surge on its second day of trading, nearly quadrupling its $31 IPO price. As of Friday, the stock hit $123.51, just shy of quadrupling its initial price, indicating strong investor demand after its opening on the New York Stock Exchange. This performance follows a successful IPO that raised about $1.1 billion, establishing a market cap of $21.7 billion. The rise in Circle's stock coincides with a rebound in Bitcoin prices, which surpassed $105,000 after a dip. Analysts caution retail investors against immediate purchases, highlighting the typical price adjustments that follow an IPO's lockup period.

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