On June 4, Circle Internet Group, the issuer of USDC, one of the largest stablecoins in the world, officially announced its IPO pricing—up to $31 per share! This not only far exceeds the previous estimated range of $27-28, but its total market value has also reached nearly $6.8 billion! It is reported that due to extremely strong market demand, the oversubscription has exceeded 25 times! Circle and its original shareholders have decided to increase the issuance scale from 32 million shares to 34 million shares, expecting to raise as much as $1.05 billion!

What does this mean? Since the IPO of Coinbase ($COIN) in 2021, another epic IPO has emerged in the crypto space! As the issuer of the stablecoin USDC, Circle's status in the market is well known. However, looking back at Circle's journey to listing, it has been quite turbulent! From attempting a SPAC merger in 2021 to secretly submitting the S-1 form in January this year, and even rumors of being acquired by Coinbase or Ripple in April, it has finally settled down.

Why is $CRCL considered a game changer?

Because it is almost the best (or even the only?) large-cap stock target for traditional financial investors to directly bet on the "growth of stablecoins" and "blockchain infrastructure," the two golden tracks! The application scenarios of $USDC span global payments, DeFi lending, and trading settlements...

How is this different from the $COIN listing?

$COIN went public through a direct listing (DPO), allowing early investors and insiders to trade their shares without a lock-up period, which led to a rapid halving of $COIN's price within a month after its listing. In contrast, $CRCL is a traditional IPO, where insiders must lock up their shares for 180 days according to the rules! What does this mean? Less early selling pressure and a more stable price expectation!

Is the "Summer of Stablecoins" really coming?!

The strong performance of $CRCL will undoubtedly become a super catalyst for market excitement! If its market value surges to $10 billion or even higher in the short term, the ceiling of the DeFi world will be completely lifted! Those DeFi projects deeply tied to stablecoins and with ample cash flow will also be revalued.

Chain reactions from the $CRCL listing:

New valuation anchor: Establishing a new benchmark for other stablecoins and DeFi projects

TradFi flood: More traditional capital will flow into the crypto world through $CRCL!

Regulatory benchmark: Compliant listings are the best endorsement for the industry

Ecosystem boom: Trading volumes for $PENDLE, $AAVE, and others surge.