Circle stock price pump gains steam, but a crash may follow
Circle stock price continued its uptrend in pre-market trading, cementing its position as one of the best-performing initial public offerings of the year.
CRCL jumped 170% on its first trading day and climbed another 16% in the pre-market session. This surge pushed its market capitalization above $20 billion, roughly a third of USD Coin’s (USDC) market cap.
The rally was fueled by strong retail and institutional demand for shares in the second-largest stablecoin issuer. Notably, BlackRock acquired a 10% stake in the company, while Ark Invest invested $150 million.
Investors and analysts believe stablecoins will be the next big thing in finance. In a recent study, Citi estimated that the industry will be worth…
