Circle announced the launch of its USDC stablecoin on the XRP Ledger on June 12, which led to changes in the stock market.
Launch of USDC on XRP Ledger
On June 12, Circle announced the launch of its USDC stablecoin on the XRP Ledger. This event caught the attention of investors and traders, showcasing the company's further development in blockchain technology.
Stock Performance of Circle Internet Group
Following the launch of USDC, shares of Circle Internet Group, Inc. (CRCL) rose on the New York Stock Exchange. On Friday, shares closed at $133.56, reflecting a 25.36% increase for the day. Despite previous fluctuations, this growth indicates a strong investor demand.
Market Prospects and Volatility
While CRCL shares showed a strong recovery, the market situation remains challenging. Over the week, shares fell by 17%, highlighting the volatility faced by newly listed companies. Investors remain cautious as they anticipate future price movements and potential stabilization.
The launch of USDC on the XRP Ledger has been a significant event for Circle and generated interest in the stock market, but investors should consider stock volatility.
