The price of Circle Internet Group shares continues to increase, rising up to 25% on Friday from its previous closureone day after the price of the OPI of the stablecoin issuer increased more than double.
The shares of the company quoted at US $ 94.50 each at 9:45 am on Friday in New York, more than triple its initial sale price of US $ 31. Its market value, totally diluted, amounted to about US $ 25,000 million, according to Bloomberg calculations. This rebound raises the total increase to 205 %.
On Thursday, the USDC issuer shares the second largest stablcoin, closed 168% above the price of their IPO. The operation increased twice due to the strong demand and its price was above the market range.
Ark Investment Management, the technological firm founded by Cathie Wood, He acquired more than 3 million Circle shares for his background listed on the Bag on Thursday, according to his website. The firm acquired 1.46 million additional actions for its other funds and, in a previous presentation, He announced that he planned to buy up to US $ 150 million in Circle shares in its initial public offer.
Stable currencies, digital tokens often linked to the dollar or other currency and backed by reserves, are about to be regulated by the legislation that is currently facing Congress, an advance that can lead to greater institutional adoption.
Circle’s USDC stablinc had approximately 29% of the market at the end of March, according to the presentation that CoinmarketCap data cites. As of May 29, the Token was in circulation for an approximate value of US $ 61,000 million, according to its website.
