Summary
- Arthur Hayes stated that the Circle IPO could mark the beginning of replicating the 2017 ICO mania.
- He believes this trend could lead to a crypto IPO frenzy, with cases where huge inflows of capital are followed by a sharp drop right after listing.
- On the first day of Nasdaq listing, Circle closed at $83.23, and its market capitalization soared to about $16.7 billion.
There is a growing sentiment that the fervor of the 2017 ICO boom has returned, sparked by the spectacular Nasdaq debut of the stablecoin issuer Circle. On the 6th (local time), Arthur Hayes stated on his X account, "Circle's IPO could be the beginning of turning the 2017 ICO mania into a crypto IPO mania." He described this trend as the prelude to 'mania,' and added that we could eventually see blockbuster IPOs that attract massive capital and then plummet right after listing, similar to what happened with EOS. Meanwhile, on its first day listed on Nasdaq, Circle closed at $83.23, and its market capitalization surged to about $16.7 billion (approximately ₩22 trillion) on just the first day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
