Circle Surges 205% Just Two Days After IPO… Soars Following US Stock Market Debut
Summary
- Circle's share price surged 205% just two days after its IPO.
- Circle's share price climbed to $94.50 per share, up from the IPO price of $31.
- There is growing attention on the discussion of the stablecoin regulatory bill in the United States Congress and the potential influx of institutional investors.
The share price of Circle, the issuer of the stablecoin USD Coin (USDC), soared by 205% just two days after its initial public offering (IPO), continuing its spectacular stock market debut.
According to Bloomberg on the 6th (local time), Circle's share price soared to $94.50 per share right after the opening of the New York Stock Exchange. This represents a 205% increase compared to the IPO price of $31. On the previous day, the closing price surged 168% compared to the IPO price.
The media outlet added, "As the issuer of USDC, the world’s second-largest stablecoin, Circle is expected to benefit from the stablecoin regulatory bill (GENIUS Act) currently under discussion in the United States Congress, with the possibility of increased inflows from institutional investors."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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