What to Know: Because Apparently Some People Care
- Circle (CRCL) shares closed at a glorious $83 — a delightful 167% jump from their humble $31 IPO debut. It’s basically the stock market’s version of that dress everyone argued about—was it blue and black or white and gold? Turns out, it’s just a very expensive pair of shoes.
- The intraday high hit a thrilling $104, sparking dreams of overnight riches, but also questions about whether the stock is the real deal or just another Reddit-fueled hype train about to derail.
- Trading volumes for USDC and Tether’s USDT saw a modest uptick, because who doesn’t want to own the stablecoin of the moment? More stabilizing than your aunt’s kitchen table, apparently.
Shares of Circle (CRCL), freshly minted on the NYSE, skyrocketed from their IPO price of $31 to an eye-popping close at $83—a number that sounds more like a lottery jackpot than a stock price. It briefly soared to $104 after traders crossed their fingers and hopes at $69.
If you’re wondering whether this is sustainable, you might recall Coinbase’s 2021 IPO—an instantly famous “this time is different” moment. That stock opened at $381, shot up to a dizzying $430, and then, just like the hopes of getting fit by January, plummeted below $200 faster than you can say “pump and dump.”
Meanwhile, the stablecoin market got a little buzzier, with USDC volume up 22% and Tether’s USDT climbing 13%. No, this isn’t your grandma’s dollar—unless she’s into digital currencies and memes.
USDC—essentially a crypto version of your dollar—was quietly doing its job by facilitating trades, loans, and sending money to Aunt Mabel in Idaho. Thursday’s hype might just be a sign that investors are comfy with spending their pretend-and-real cash on crypto stuff as traditional fiat and meme-token markets get cozy.
Yet, let’s not get carried away, because hype, like that weird leftover casserole from last Thanksgiving, can disappear quickly. The coming weeks will reveal whether Circle’s investor fans are in for a long haul or just chasing the next shiny thing.
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2025-06-06 00:02