Circle’s explosive IPO set a new benchmark for the Crypto Equity list, but the actual story may be in what comes next.
According to the latest Bybit Crypto Insights report shared with Crypto.News, Wall Street not only misjudged the value of its circle, but it could now catch up as more crypto companies are preparing to go public.
This report analyzes the details behind NYSE ticker CRCL, behind CIRCLE’s debut. Bibit analysts argue that this breakout is more than investor enthusiasm. It was a sign that traditional evaluation models did not capture Crypto’s growth dynamics.
BYBIT highlights how investment bankers underestimate the foundations of Circles (USDC) despite institutional players’ oversubscription and strong demand.
This report illustrates the structural gaps in how cryptographic businesses are priced, suggesting the need for updated metrics suitable for decentralized and blockchain-based business models.
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More crypto IPOs are coming
Importantly, the report identifies six companies that will lead the next wave of Crypto IPOs. These include fireblocks and chain dialysis, ready for a multi-billion dollar list.
Other unnamed candidates range from Defi, Security Infrastructure, and Stablecoin services. Bibit emphasizes that each has a clear strategic position in the evolving digital assets landscape.
The favorable US regulatory environment under the new administration is accelerating the timeline, according to the report. With its success as a reference point for Circle, the IPO pipeline is expected to expand, informing crypto companies’ wider market acceptance and capital access.
Bybit concluded that Circle’s IPO is not just a single success. This is the forefront of a trend that reshapes the way public markets evaluate digital finance.
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