With plans to list on the NYSE, stablecoin giant Circle has upsized its original IPO to a valuation of $7.2B. This signals significant momentum in the stablecoin market and strong investor appetite for crypto firms.
The New York-based fintech launched its IPO on May 27. Aiming to raise $624M and targeting a valuation of up to $6.7B, it initially planned to offer 24M shares of its Class A common stock, with a price range of $24 to $26 per share.
How will this reflect on the growing crypto market, and why would altcoins like Best Wallet Token be best positioned to leverage this potential? Let’s discuss that below.
From a target of $624M, Circle has upped the size and price range of its upcoming IPO. It now wants to raise up to $896M by selling 32M shares, each valued at $27 to $28. This pushes Circle’s estimated valuation from $6.71B to $7.2B.
Wanting to be the market leader is not the same as actually being one. But that’s where the $BEST comes in. It’s set to power Best Wallet’s already impressive functionality and drive its mission to being number one.
The demand for stablecoins is rapidly growing. Circle’s upsized IPO is a case in point. And the ripple effect of that will be a bigger demand for non-custodial crypto wallets. And that puts $BEST in a great position to pump.
The crypto market is unpredictable, though. That’s why we urge you to always DYOR before making any investment.
