While Elon Musk and Donald Trump are 'battling' on social media, another event is quietly pushing crypto into a vortex of instability: the IPO of Circle – the company behind USDC.
Circle just listed its shares under the code CRCL with an initial price of 31 USD. Within a few hours, the stock surged to over 100 USD, then closed at 83 USD – a staggering increase in just one day.
But the question is: Is this a sign of a new growth period? Or is it... a death knell like it was for Coinbase?
Those with good memories cannot forget the 2021 IPO of Coinbase – a moment seen as the 'absolute peak' of the crypto market. After that day, the price of BTC and the entire market began to plummet. Joy turned into a nightmare.
History is at risk of repeating itself.
With Circle choosing to launch at a time when the market is still very fragile and with many hidden selling pressures, many investors suspect this IPO is a sophisticated pump & dump, aimed at 'selling high' to new retail investors.
Worse still, Circle's IPO is happening right when the market is under pressure from the conflict between Musk and Trump, making the overall sentiment among investors even more negative. Combined with bad news about monetary policy and interest rates, many experts believe we are about to enter another 'crypto winter' – if we haven't already started one now.
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