The decision to expand the IPO scale of Circle reflects the market's long-term optimism towards stablecoins and blockchain financial infrastructure, especially in the context of a gradually clearer regulatory framework. USDC's competitive advantage as a compliant stablecoin is highlighted. This move not only enhances capital strength to cope with competitors like Tether but also reserves space for potential mergers and global compliance layout. However, caution is needed regarding the impact of cryptocurrency market volatility on valuations, as well as the potential effects of changes in U.S. monetary policy on the demand for stablecoins. If financing can be efficiently transformed into technological upgrades and compliance investments, it will solidify its leading position in the payment settlement track, but ultimately depends on institutional investors' recognition of blockchain underlying financial facilities during a bear market.