The cryptocurrency exchange Bybit has released its latest Bybit Crypto Insights Report, which focuses on analyzing Circle Internet's successful initial public offering (IPO), delving into why Wall Street severely undervalued Circle's valuation, Coinbase's lessons for investors, and which cryptocurrency giants are expected to profit from the emerging IPO wave.
The report points out that Circle (NYSE: CRCL), as the issuer of USDC stablecoins, has seen its stock price soar from an IPO price of $31 to a first week closing price of $107, fully demonstrating the strong demand for cryptocurrency stocks in the market. Its stock price performance far exceeded Wall Street's expectations, indirectly reflecting that investment banks severely underestimated Circle's valuation potential, highlighting the disruptive nature of cryptocurrency. As more blockchain and cryptocurrency related companies enter the capital market, traditional valuation methods are being rewritten.
Circle is just the beginning. ”In addition, the Bybit report also lists six candidate companies in the process of preparing for an IPO, including key participants such as Fireblocks and Chainalysis, whose valuations are expected to reach billions of dollars. Industry experts point out that the favorable regulatory environment under the new US government has created the best conditions for cryptocurrency companies to enter the public capital market, and the expected wave of cryptocurrency IPOs will further establish the legal status of the cryptocurrency industry in global finance.
