Circle logs in to the New York Stock Exchange, opening stock price big pump attracts market follow

Recently, the stablecoin industry giant Circle officially listed on the New York Stock Exchange, becoming another important crypto company entering the traditional capital market after some well-known cryptocurrency-related enterprises. This marks a milestone moment for the stablecoin sector.

Circle ultimately raised the issue price to $31, expanding the total number of shares issued to 34 million, with a total fundraising amount close to $1.1 billion. The oversubscription ratio for this IPO reached 25 times, demonstrating the market's enthusiastic pursuit of the company.

On the first day of trading, Circle's stock performed exceptionally well. The stock price soared above $100 at one point, triggering multiple circuit breakers due to extreme trading activity. The final closing price was $83.23, up 168% from the issue price, with a total market capitalization of $18.4 billion and a trading volume exceeding 47.78 million shares, approximately $4.014 billion.

This unexpected market performance surpassed the IPO debut performance of many peers. From a market capitalization perspective, although Circle's closing market cap on the first day was less than that of some large crypto exchanges and fintech platforms, it significantly exceeded that of other related companies. In terms of stock price rise, Circle's stock surged by 168% on its first day, leading its peers by a wide margin.

The CEO of Circle made a statement during the company's listing, emphasizing that the company has been committed to building a trustworthy, transparent, compliant, ethical, and well-governed enterprise since its inception. He stated that adhering to strict regulatory standards will further deepen the company's commitment to these principles.

However, Circle's listing has also sparked some controversy. Industry insiders question its profitability, believing that embracing Wall Street may be a shortsighted move. Some analysts have also pointed out that the big pump in Circle's stock price is mainly attributed to the current popularity of the stablecoin sector, as well as many investors' previous underestimation of this field.

For many investment institutions, Circle's listing means that their long-term bets have finally yielded returns. According to public data, Circle has completed multiple rounds of financing, with a total amount exceeding $2.2 billion. Based on the current market value, the estimated return rates from several financing rounds are quite impressive, with early investors reaping returns of several dozen times or even hundreds of times.

Circle has chosen the traditional IPO route for its listing, which means the company is willing to accept stricter scrutiny and compliance processes. At the same time, early investors, the founding team, and employees' shares typically face a "lock-up period" for a certain duration to prevent concentrated cashing out in a short period, which could trigger severe fluctuations in stock prices.

The successful listing of Circle not only brings new development opportunities for the company itself but also has a positive impact on the entire cryptocurrency industry, especially in the stablecoin sector. It demonstrates the recognition of traditional financial markets for crypto companies and provides useful references for the future development paths of other related enterprises.