The shares of the Stablecoin Giant Circle rose as a public company on the first day.
In one after On the social media platform X, the issuer of the second largest dollar-pegged Stablecoin USDC and the Euro-Pegged Euro Coin (EURC) says that his shares can now be traded on the New York Stock Exchange (NYSE).
The company initially announced plans to become public in 2021.
“Circle is now officially a public company mentioned on the NYSE under CRCL.
With USDC, EURC, Circle Payments Network & More we push a future of frictionless value forward. We don’t just build financial products. We build the cash layer of the internet. ‘
Circle made its stock market debut on Thursday with an opening price of $ 69 per share, an increase of 168.48% compared to the initial public offer (IPO) price of $ 31.00 per share.
The company originally strived for an IPO price of around $ 28 per share, but pseudonymous crypto analyst Het Flow Horse says that this is relatively low.
‘ I think $ 28 looks cheap for a period of several months. In addition to the initial event volume, I will be looking for the price to develop a clean range and ideally start by determining a long -term position. “
The shares of Circle peaked at $ 103.75 and closed on Thursday to $ 83.23.
Financial Titan BlackRock is said to be planning to collect 10% of the shares of Circle. The world’s largest asset manager is already the acting reserve manager for the assets that support USDC.
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Generated image: midjourney