Bitcoin24h $105,730.74-4.94%

Ethereum24h $3,783.91-6.76%

BNB24h $1,077.15-8.59%

XRP24h $2.28-6.38%

Solana24h $181.96-7.19%

TRON24h $0.3104-3.94%

Dogecoin24h $0.1829-8.21%

Cardano24h $0.6170-8.84%

Hyperliquid24h $35.40-8.70%

Chainlink24h $16.54-10.16%

ANALYSIS: Does the Circle IPO value Tether at $316B?

Circle’s upcoming IPO will provide a unique opportunity to value the world’s largest stablecoin issuer, Tether.

Circle IPO traders send wrong CRCL stock up 16,000%

Circle (CRCL) is going public this week, but traders transposed their excitement to another CRCL stock, which spiked 16,000%.

Circle and Tether, the two largest stablecoins, have adopted different tactics when it comes to the management of their reserves.

Crypto exchanges report around $55M in RLUSD volume over the last 24 hours — 99.4% less than Circle’s $9.8B for its much larger USDC.

Circle has filed to go public and admits that it is 98% less profitable than Tether despite sharing a similar business model.