$USDC The issuer USDC showed a stock price increase of 168% on the day of the IPO

On June 5, the company Circle, the issuer of the second largest stablecoin USDC pegged to the dollar with a market capitalization of $61 billion, went public on the New York Stock Exchange (NYSE) through an initial public offering (IPO). On the first day of trading, the price of securities under the ticker CRCL jumped from an opening price of $31 by 168%, closing at $83.

The rise in Circle's shares comes amid a surge in activity in the stablecoin market. The trading volume of USDC increased by 22% in a day, while USDT from the private company Tether — the largest stablecoin by market capitalization — saw a volume increase of 13%.

As a result of the IPO, Circle raised $1.1 billion, and the total number of shares issued reached 34 million. Initially, during the expanded IPO, the company planned to raise $7.2 billion.