Circle valued at $9 billion before going public

The merger with Concord Acquisition benefited Circle. Her business is worth $9 billion, double the previous estimate.

It has been 7 months since Circle announced its listing on the stock exchange last summer. The issuer of USD Coin (USDC) has doubled in price since July 2021.

The growth of the cryptocurrency sector had a positive impact on the company's valuation, as the capitalization of USDC and its share in the overall cryptocurrency market increased.

The trading volume of the stablecoin has doubled since July and amounted to $52.5 billion as of February 16, 2022. It is the second most popular stablecoin equivalent to the US dollar, behind only Tether (USDT).

Recall that Circle shares on the New York Stock Exchange will be traded under the ticker CRCL. The deal will be concluded either on December 8, 2022, or the date of signing the agreement will be extended until January 31, 2023. It must be approved by regulators and shareholders of the company.

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