Circle profited from the combination with Concord Acquisition. Her company is now worth $9 billion, more than quadruple the prior estimate.
It has been seven months since Circle announced its stock market offering last summer. Since July 2021, the price of the issuer of USD Coin (USDC) has more than doubled.
As the capitalization of USDC and its proportion of the entire cryptocurrency market expanded, the company’s valuation climbed.
Since July, the stablecoin’s trade volume has more than quadrupled, reaching $52.5 billion as of February 16, 2022. It is the second most widely used stablecoin comparable to the US dollar, after only Tether (USDT).
Remember that Circle shares will be traded on the New York Stock Exchange under CRCL. The transaction will be completed on December 8, 2022, or the date of signing will be extended until January 31, 2023. The company’s authorities and shareholders must approve it.