Bitcoin24h $68,952.14+2.86%

Ethereum24h $2,021.96+4.53%

BNB24h $635.51+3.29%

XRP24h $1.37+1.39%

Solana24h $85.05+4.13%

TRON24h $0.2848-0.64%

Dogecoin24h $0.0918+3.86%

Cardano24h $0.2581+2.42%

Bitcoin Cash24h $454.49+1.71%

UNUS SED LEO24h $9.06+0.36%

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.