CBEX

According to the Bybit Crypto Insights Report, Circle, the company behind the USDC stablecoin, has successfully entered the public markets, with its stock price soaring from its initial public offering (IPO) price of $31 to a first-week close of $107. This performance sets a precedent in the cryptocurrency sector, suggesting that Wall Street may have severely underestimated the value of the company in the pre-IPO stage.

The report notes that investment bankers may have underestimated the potential of Circle, which experienced an oversubscribed IPO and subsequently strong demand for its shares after its public listing. This result highlights the changing valuation dynamics of cryptocurrency-related companies and the potential for more blockchain companies to enter the capital markets using non-traditional valuation methods.

Circle's successful IPO is seen as a reflection of the current favorable cryptocurrency development environment in the United States, which is promoting the acceptance of digital assets by the mainstream market. The Bybit report also points out the broad impact this has on the entire industry, setting a new benchmark for other companies.

Looking ahead, the Bybit report identifies six cryptocurrency and blockchain companies that are expected to IPO by 2025. These companies have made progress in various sectors of the industry, from decentralized finance (DeFi) to security, and are expected to reach multi-billion dollar valuations.

The report points out that the favorable regulatory environment under the current US government is a catalyst for the expected wave of cryptocurrency IPOs. The entry of these companies into the public markets may further consolidate the position of the cryptocurrency industry in the global financial landscape.

The Bybit report also reminds investors by comparing Circle's post-IPO performance with Coinbase, which faces challenges during the 2022 market correction. The report emphasizes the importance of considering company fundamentals and the competitive landscape of the cryptocurrency industry.

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