Matrixport: Circle IPO reignites Wall Street's interest in crypto stocks, but has not yet fully transmitted to crypto assets

According to BlockBeats, on June 9th, Matrixport released a daily chart analysis stating that "Circle's heavyweight IPO has skyrocketed its valuation to $24 billion - nearly $20 billion higher than the price Coinbase was willing to pay a month ago. Although the offer at that time seems like a "bargain hunt" from now on, the success of this IPO undoubtedly reignited Wall Street's interest in cryptocurrency stocks. However, despite the rising market sentiment, the overall cryptocurrency market has not shown the same enthusiasm. The funding rate of Bitcoin is still relatively low, and even turned negative at one point. Some investors may be adopting a hedging strategy of long on cryptocurrency stocks while short on Bitcoin. Regardless of the strategy, the current optimism mainly remains in the public stock market and has not yet fully spread to the cryptocurrency assets themselves