The company behind the second largest USD-Pegged Stablecoin by Market Cap mentions its prize for his upcoming US Initial Public Offer (IPO).
According to a Reuters reportUSDC-Isuer Circle says that it aims for a valuation of $ 7.2 billion in its upcoming IPO-accident $ 28 per share-partial due to the friendlier prospects of the current administration on crypto regulations.
US Dollar-Pegged Stablecoins are intended to maintain a 1: 1 value with the US dollar. Tether’s USDT is the largest USD-Pegged stablecoin due to market value.
Says Chief Investment Officer of Running Point Capital, Michael Ashley Schulman,
“Issues related to Memecoin -Hype and more specifically Trump’s companies in a namesake Munt, the prospects for stablecoins supported by hard currency should not directly influence.”
According to the widely, pseudonymous crypto analyst the Flowpaard, the circle -IPO valuation is “cheap”.
“Circle IPO seems interesting to me.
I think $ 28 looks cheap for a period of several months.
In addition to the initial event volume, I will be looking for the price to develop a clean range and ideally start by determining a long -term position. “
Bloomberg report That BlackRock, the largest asset manager in the world, is planning to collect 10% of the shares of Circle when they become available on Thursday 5 June. BlackRock is already the acting reserve manager for the assets that USDC supports.
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Generated image: midjourney