Circle captured investor attention with its recent IPO on the New York Stock Exchange, starting at $31 per share and swiftly achieving a valuation of $70 billion.
Circle's IPO and Its Success
Circle debuted on the New York Stock Exchange 17 days ago, raising $1.05 billion and setting an initial valuation of $6.8 billion. On its first day, the stock surged by 168%, closing at $83.23. Within two days, Circle's shares hit $107.50, and by June 23, 2025, they reached $299, pushing the company's valuation above $72 billion before retracting to $64 billion.
Comparison with Competitors
Circle's swift ascent stands in stark contrast to similar companies. For instance, Coinbase and Robinhood reached their evaluations of $78 billion and $68 billion, respectively, but it took them considerably longer. Circle managed to reach $70 billion without SPAC maneuvers or a gradual market climb.
Market Context and Other Events
Amid Circle's rapid rise, the market is also experiencing open conflicts between Israel, Iran, and the US. The Dow Jones increased by 374.96 points to close at 42,581.78. President Donald Trump confirmed that Iran provided advance warning of the missile strike, preventing casualties.
Circle's success in the stock market highlights investor interest in cryptocurrencies, but concerns are emerging about the stability of this valuation in the context of current market volatility.
