Circle Stock Soars 900% to $300 Despite Cathie Wood’s $110M Share Sell-Off
Circle (CRCL), the fintech company behind the USDC stablecoin, has blown up 900% since its IPO three weeks ago. On Monday, CRCL stock...
Quick overview
- Circle (CRCL) stock surged 900% since its IPO three weeks ago, reaching a market cap of $54 billion.
- Despite Cathie Wood's Ark Invest selling $110M worth of shares, institutional demand for CRCL remains strong.
- The recent Iran-Israel peace deal contributed to a bullish market environment, further boosting CRCL's stock price.
- Circle's rapid growth is encouraging other crypto companies like Gemini and OKX to consider public listings in 2025.
Circle (CRCL), the fintech company behind the USDC stablecoin, has blown up 900% since its IPO three weeks ago. On Monday, CRCL stock went up 20% intraday, hitting $300 briefly, up tenfold from its IPO price. It closed the day at $260.54, up 9.62% and $54 billion market cap, bigger than its own stablecoin in circulation.
It happened despite Ark Invest selling a big chunk. Circle IPO is changing the conversation with mainstream investors. 2025 is the start of the mainstream era. — Hunter Horsley, Bitwise CEO
Circle’s rise has got Gemini and OKX looking at public listings for 2025.
Cathie Wood Unloads $110M in CRCL Shares
Cathie Wood’s Ark Invest sold 415,000 CRCL shares on Monday, worth over $110M. It was the second time Ark sold CRCL in a week. They had invested $376M in CRCL during the IPO when it was below $100. They still hold 3.8M shares.
According to VanEck CEO Matthew Sigel, their CRCL holdings are now bigger than CEO Jeremy Allaire’s stake.
Iran-Israel Peace Deal Boosts Market Optimism
Monday’s market was also boosted by geopolitical news. The Iran-Israel peace deal announced Monday added 1% to the major indices. While this wasn’t specific to Circle, it was part of the overall bullish environment where CRCL stock went up.
CRCL Drivers: 900% up in 3 weeks
- Cathie Wood sells $110M but still holds big stake
- Institutional adoption from VanEck, Ark, Bitwise
- Macro positive from peace deal
Summary:
Cathie Wood sold $110M but Circle’s stock still going up. Institutional demand and crypto in traditional finance is the theme. $54 billion market cap and a 900% price move in 3 weeks, Circle is setting the stage for other crypto companies to go public.
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