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Circle Internet, a stablecoin issuer, made a stellar debut on the New York Stock Exchange Thursday, revitalizing a struggling IPO market. The company’s stock price more than doubled, opening at $69 and valuing the company at approximately $18 billion. Trading was volatile, with the stock reaching a high of $103.75 and experiencing multiple trading halts. Ultimately, Circle’s shares closed at $83.23, marking a significant increase and signaling strong investor confidence in the company and potentially boosting the outlook for future IPOs. This performance underscores the growing interest in stablecoins and their potential within the broader cryptocurrency landscape.
