Circle ( CRCL, Financials ), the issuer of USDC, saw its shares jump 245% in its debut weekan explosive public market entrance that could set off a wave of crypto IPOs, according to a new report from Bybit.

Circle's CRCL stock debuted on the NYSE on June 5 when it opened at $69, more than 124% higher than the IPO price of $31. The CRCL stock hit a record high of $138.57 on 9 June as the news of ETF filings flew in. However, the stock closed at $ 107.10 on 10 June, a 7% drop in a day.

Circle goes public as stablecoin adoption and regulation hit a key turning point. Can $CRCL prove resilient if interest income becomes less reliable?

Circle priced its initial public offering (IPO) on Wednesday at $31 per share, above the expected range of $24 to $26. The company sold around 34 million shares in the offering for a valuation of $1.1 billion. Bloomberg pegs the total amount raised in the IPO at $6.9 billion.

After a tepid few months, it looks like the market might finally be warming back up for companies looking to take the IPO plunge. Last week, cryptocurrency company Circle Internet Group (NYSE:CRCL) made a splash with its market debut,

CoreWeave saw a massive rally following its late March debut and Circle I burst onto the scene last week with its successful IPO.

Circle's initial public offering (IPO) may pave the way for other crypto companies to follow suit. A report by Bybit highlighted six crypto firms that

More gains are in store for stablecoin issuer Circle (NYSE:CRCL) following a strong IPO debut this past Thursday. After pricing shares at $31, the stock more than doubled in its first day of trading,