This Crypto Craze Is Making a Comeback

This Crypto Craze Is Making a Comeback

On June 5, stablecoin giant Circle went public at a valuation near $6.9 billion. By the end of the day, it was worth over $18 billion.

That’s a 167% increase in less than 24 hours.

On day 2, shares popped another 45% intraday, making Circle’s two-day moonshot of nearly 250% the highest in history.

As of this writing, Circle’s market cap stands at around $27.2 billion.

By all accounts, Circle’s much-anticipated initial public offering (IPO) was a blockbuster deal. And it signals renewed momentum in the crypto sector.

It paves the way for other privately held crypto firms like Kraken, Chainanalysis, and Consensys to eventually hit public markets, too.

But as huge as Circle’s IPO was – and it was headline-grabbing – I believe a public offering for another stablecoin that occurred just four days later could be even bigger.

Here’s the thing: The deal for that company was less than one-tenth the size of Circle’s IPO.

That’s right. This deal was about $500 million.

Yet, I believe this deal will have greater ramifications for readers of Digital Asset Daily than Circle’s headline-grabbing news.

The Return of the ICO Craze