#BigTechStablecoin Meanwhile, USDC issuer Circle finally went public on Thursday after years of prior attempts. The firm's stocks soared nearly 200% above the IPO price of $31, and CRCL shares trade at $112 as of publication, according to TradingView.

Stablecoins reached their highest-ever market capitalization of $250 billion this month. On-chain volume for Ethereum-based stablecoins alone in May reached $1.42 trillion, with Circle's USDC comprising 41.5% of that, with nearly $589 billion.