![\"Circle-Internet-Group-CRCL-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome\"](\"https:\/\/forklog.com\/wp-content\/uploads\/Circle-Internet-Group-CRCL-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-1024x439.jpg\")
On June 5, Circle went public<\/a>. During its IPO<\/span>, the firm raised $1.1 billion with a valuation of $6.9 billion. On its debut day at the NYSE<\/span>, shares of the USDC issuer under the ticker CRCL soared by 168%<\/a> \u2014 from $31 to $82.<\/p>\n Overall, since the start of trading, the company’s shares have increased by 750%.<\/p>\n Artemis CEO John Ma noted<\/a> that USDC’s capitalisation has grown by 90% over the year and now reaches $61.6 billion. In the stablecoin segment, the coin is second only to Tether’s USDT, which stands at $155.4 billion.<\/p>\n Ma pointed out Circle’s unusually high market valuation multipliers \u2014 it exceeds:<\/p>\n \u201cSuch a model lacks significant potential,\u201d commented<\/a> the manager late last week.<\/p>\n<\/blockquote>\n One potential driver of Circle’s stock rally is the advancement of the GENIUS Act<\/a> stablecoin regulation bill in the US Congress. On June 16, the Senate passed the document, which is now under consideration by the House of Representatives.<\/p>\n According to several experts, the proposed standards could strengthen the position of the USDC issuer in the segment, which has always aimed to operate within the US regulatory framework.<\/p>\n Circle is actively expanding its business, having recently added USDC support in the World Chain<\/a> and XRP Ledger<\/a> networks.<\/p>\n The company announced<\/a> a partnership with payment provider Fiser. The collaboration aims to \u201cjointly explore stablecoin-based solutions for financial institutions and merchants.\u201d<\/p>\n The e-commerce platform Shopify implemented<\/a> the option to pay in USDC.<\/p>\n However, experts warn<\/a> of a potential bubble in the stablecoin market following Circle’s successful stock offering.<\/p>\n One of the largest investors in the USDC issuer’s IPO was Cathie Wood’s Ark Invest. Three of the company’s funds acquired a total of 4,486,560 Circle shares on the day of its market debut, according to The Block<\/a>.<\/p>\n On June 23, the firm sold 415,844 CRCL shares worth $109.6 million, continuing to lock in profits. Prior to this, Ark Invest sold<\/a> 342,658 shares for $51.7 million.<\/p>\nExperts Warn of a Bubble<\/h2>\n
![\"Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-9\"](\"https:\/\/forklog.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-9-1024x279.jpg\")
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