Circle Internet, a leading stablecoin issuer, saw its shares soar by 48% on Friday, continuing its remarkable surge following a stellar debut on the New York Stock Exchange.
The New York-based company’s stock peaked at $123.49, nearly quadrupling its initial offer price of $31 and pushing its fully diluted valuation to $32.1 billion.
This impressive listing further fueled optimism that the IPO market was regaining strength after a period of volatility driven by tariffs.
Matt Kennedy, senior strategist at Renaissance Capital, highlighted the significance of this development, stating that its impact reaches beyond the crypto sector.
“This is a clear indicator of growing momentum in the IPO market,” Kennedy noted. “While moderate activity is expected in the coming month, lingering tariff concerns suggest a more substantial IPO resurgence by fall.”
Meanwhile, Wall Street executives echoed a positive outlook at an industry conference on Thursday, emphasizing that markets were primed for the right companies to step in.
NYSE President Lynn Martin described Circle’s IPO as a key indicator for this year’s broader IPO market, extending beyond just crypto-related listings.
NASDAQ CEO Adena Friedman noted that investors are adapting to the prolonged uncertainty by actively deploying their capital.
IPOX research analyst Lukas Muehlbauer observed that recent successful IPOs have primarily involved companies with minimal exposure to international supply chain risks.
Muehlbauer anticipates sustained IPO activity in the coming months, particularly among companies in resilient sectors like AI, defense, and fintech.
Among the upcoming listings, digital banking startup Chime is set to go public next week, while cancer diagnostics firm Caris Life Sciences, backed by Sixth Street, recently entered the IPO pipeline.
