Crypto US stocks show mixed performance as investors’ attention changes between IPO excitement and index rebalancing disappointment. Circle (CRCL) surged nearly 260% after the historic NYSE debut, while Robinhood (Hood) fell by more than 5% after being ruled out from the S&P 500.
Despite analysts projecting it on a critical upside down, the Riot platform (Riot) also slipped almost 3% after not surpassing key resistance. Meanwhile, the Strategy (MSTR) continues to lead companies’ adoption of Bitcoin despite the short-term pressures of stocks.
Circle surges 260% after historic NYSE debut
USDC issuer Circle (CRCL) made history as the first Stablecoin Company to be published on the New York Stock Exchange. After launching at $31 per share, CRCL debuted at over 200% to over $100, and is currently trading around $109.
The IPO raised $1.1 billion and valued the company at $6.9 billion, highlighting strong investors’ demand. CEO Jeremy Allaire called it a major milestone in the circle’s long-term mission of restructuring global finance.
Following the IPO, ProShares and Bitwise submitted proposals to the SEC and launched an ETF to track Circle’s stock performance.
These include leveraged ETFs and optional revenue strategy ETFs. The filing shows that as regulations advance and USDC’s market capitalization rises to over $61 billion, it will increase traditional financial interest in Stablecoin infrastructure.
Retail investors’ momentum plays a major role in CRCL’s almost 260% rally, drawing comparisons with recent IPOs like CoreWeave. Before it stabilized, the daytime high reached $123.49.
Unlike other listings, Circle has a strong foundation. This was $1.68 billion in revenues for 2024 and net profit of $155.7 million.
“The Circle stock price quadrupled its first offer, an extraordinary moment that puts it right after Coinbase’s historic $86 billion debut. A forecast rating of nearly $30 billion has proven that Stablecoins are now part of the global economy’s core infrastructure. The IPOs over the past few days are on track to drive more than $10 trillion in trading by 2026. It’s not a trend, it’s a transformation,” Bitpace CEO Anil Oncu told Beincrypto.
Robinhood drops 5% after S&P 500 Snub, Riot, MicroStrategy
Robinhood (Hood) stocks have fallen more than 5% in the last 24 hours when it was excluded from the S&P 500 index during its most recent quarterly rebalancing. The exclusion has been a surprise to many, especially after Bank of America recently named Robinhood a top candidate for inclusion.
Last week, stocks had skyrocketed above 13%, but the S&P Dow Jones index finally decided to keep the index changed. Miss was a set-off for Robin Hood, earning almost 90% since the start of the year amid strong performance in stocks and crypto trading.
Riot Platforms (Riot) is also under pressure, falling nearly 3% over the past 24 hours. The stock broke above the $10.20 resistance level and was unable to hold it, and is currently trading at nearly $9.70.
Despite recent DIP, analysts’ sentiment remains optimistic. Of the 15 analysts, the average price target is $15.73, meaning a 61% advantage. Still, failing to maintain momentum beyond a critical level can cause short-term concerns for traders.
Meanwhile, previous micro-tactics (MSTRs) have fallen almost 8% over the past month, despite an increase of over 32% since the start of the year. The company remains Bitcoin’s biggest public figure, valued at around $62 billion, at around 581,000 btc.
The strategy’s aggressive Bitcoin accumulation continues to affect other companies, including Vanadi Coffee, a Spanish chain that recently announced a BTC allocation of $1.1 billion. Vanadi aims to become a Bitcoin-first company as Crypto adoption deepens across the sector.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always conduct your own research and consult with an expert before making a financial decision. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
