$CRCL @Circle Pre-market pricing at 31u, which is already 3x higher?
Many people are discussing the timing and context of Circle's $CRCL fundraising, which seems quite different from $COIN, and the opening price appears to be beyond expectations. Here's some data about Circle.
This IPO raised over $1.1 billion, with the company's FDV valuation around $8.1 billion, marking the first public listing for a stablecoin issuer.
Circle's $USDC stablecoin grew to a market volume of $61.4 billion in June this year.
Predictions from @Artemis's @jonbma:
💡Expected total stablecoin supply to grow to over $1 trillion within 5 years
💡Benefiting from on-chain finance, US dollar demand, and global payment needs, USDC supply will grow from the current $60 billion to $240 billion by 2028
💡Reserve income will grow from $1.66 billion in 2024 to $6.29 billion in 2028
💡Net profit expected to reach around $1 billion by 2028, with a 30x P/E ratio × $1 billion net profit = $30 billion market value
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Circle's Growth Catalysts
Large banks (JPMorgan, Bank of America, etc.) considering stablecoin issuance
GENIUS Act advancing
Stripe launching stablecoin financial accounts
Meta attempting to pay content creators in stablecoins
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It seems the stablecoin track may have just begun ✨
twitter.com/Alvin0617/status/1...
