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Circle’s historic listing on the New York Stock Exchange has sent shockwaves throughout the cryptocurrency market, with shares opening nearly double its initial public offering (IPO) price under the ticker symbol $CRCL. The unprecedented demand for the stablecoin issuer, which is now valued over $10 billion, highlights a significant shift in investor sentiment towards digital finance.
The IPO’s staggering success, raising roughly $1.05 billion by selling 34 million shares at a price of $31 per share, represents a major milestone for the cryptocurrency space. This historic move marks a turning point in the industry’s history as it becomes the first publicly traded stablecoin issuer on a major exchange.
Circle Internet Financial, the parent company behind the popular USD Coin (USDC) and EURC stablecoins, has seen an extraordinary 25 times oversubscription of its IPO, shattering all expectations. This unprecedented demand underscores the growing trust investors have in digital assets.
Source: www.cryptoninjas.net
