Stablecoin issuer Circle surges 13% again, up 400% since listing

Shares of stablecoin issuer Circle surged another 13%, soaring nearly 400% since its IPO.
On the 16th (local time) in New York, the Circle rose 13.10% to 151
Circle recently went public on the New York Stock Exchange on the 5th. The public offering price was $31. After the listing, the stock price soared by a whopping 387%.
Stablecoins are expected to become available in the future as the Donald Trump administration relaxes regulations on cryptocurrencies and the U.S. Congress passes a stablecoin-related bill on August 8.
The possibility of the bill being passed within the month has increased, and it has been gaining attention recently. Circle is the issuer of the stablecoin USDC. Stablecoins are used to minimize price volatility.
It refers to a cryptocurrency whose value is pegged to a specific asset. It is usually pegged to the dollar. USDC, issued by Circle, is the second largest stablecoin in the world, with a market share of 27%.
Its overall market capitalization ranks 7th. The top stablecoin is Tether (USDT), the third-largest cryptocurrency by overall market capitalization, with a market share of 67%.