The USDC issuer circle, which took a whirlwind with the New York Stock Exchange debut yesterday, has already surpassed the high set on Thursday.
Around 1pm on Friday, CRCL reached a high of $123.51. I was shy about making the IPO price completely four-piece fabric. The shares are already trading 44% more than the $83.23 closure at the current price of $120 shy. This is a strong follow after the company tripled its $31 IPO price on the first day.
At the time of writing, the company has reached a mid-day market capitalization of $21.7 billion after closing the book in the IPO round at a valuation of $18.4 billion.
The ongoing rise of CRCL on Friday comes as Bitcoin bounced over $105,000 in morning trading after a brief dive of $101,000 on Thursday afternoon. Bitcoin is currently trading at $104,675, an increase of 1% over the past day.
Dom Kwok, co-founder of Web3 Development Tutoring App Easya, said at X that after seeing the performance on the first day, retail investors should be wary of buying CRCL shares. That’s because Wall Street analysts tend to price with their first pop.
“Wait 90-180 days after the IPO and then 90-180 days,” he wrote.
A lock-up period refers to the time when early investors and insiders are banned from selling stocks. Once the period expires, sales pressure can suddenly flow.
Kwok says that virtually all of Sircle’s revenue comes from interest as it comes from interest in cash that supports Stablecoins that “when fees go down, Circle’s revenues will drop significantly.”
The CRCL transaction, which is over $2.2 billion, is a great short IMO that generated just $65 million in net profit in the first quarter of 2025.
And 99% of the circle’s revenue comes from interest income. As the rate drops (for both), Circle’s revenues drop significantly.
NFA.
-dom(bull/ish) | Easea (@dom_kwok) June 6, 2025
Juan Leon of Bitwise called Circle’s Big Splash the moment of Wall Street’s Stablecoins’ “Lunch Landing”;
Meanwhile, Macquarie analyst Paul Golding said he was optimistic about Stubcoin for reasons that have nothing to do with the Circle IPO.
That’s because genius creates guidelines for stablecoin issuers that provide tokens to US investors as they shine squealing as they have been gaining plenty of support from Democrats and have been able to advance to the final vote in the Senate.
“The Genius Act could accelerate the evolution of payments for Stablecoin, as highlighted in Visa’s recent Investor Day,” he wrote, referring to the company’s February meeting. “[Stablecoins]combined with Visa’s cutting-edge technology, has the potential to revolutionize the global financial system and make payments more seamless and secure.”
At the time of this writing, Visa has processed $3.8 trillion Stablecoin transactions in the past month alone, and has processed $249 trillion since it began tracking in 2019.
Edited by Andrew Hayward