Circle's share price has surged significantly on its second trading day, nearing a quadruple of its initial public offering (IPO) price of $31 per share. The stock reached a high of $123.51, only 49 cents short of quadrupling its price. By around 1 PM ET, the stock increased by 44%, trading just below $120 after closing at $83.23 the previous day, soaring to a market capitalization of $21.7 billion. This rise coincided with Bitcoin's recovery above $105,000, leading to caution from some investors regarding CRCL shares. Experts suggest waiting for the post-IPO lockup period before buying to avoid potential sell-offs from early investors. The IPO raised nearly $1.1 billion for Circle, closing with a valuation of $18.4 billion, placing it prominently among crypto firms. Analysts express mixed feelings about the future sustainability of Circle's revenue, which relies heavily on interest from cash backing stablecoins, amid anticipated declines in interest rates.

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