USDC Surges 247% After NYSE Listing

Circle (CRCL), the second-largest issuer of USD stablecoins globally, made a significant move by listing its USD Coin (USDC) on the New York Stock Exchange on June 5th. The issuance price was set at $31, and on the first day of trading, the price surged by 168%. The momentum continued into June 6th, with an additional nearly 30% increase, resulting in a cumulative two-day gain of 247%. This listing is viewed as a pivotal moment for stablecoin regulation and its integration into mainstream financial systems.

Analysts from Bitunix have highlighted that stablecoins are entering a new phase characterized by "sovereign regulation + financial applications." USDC, known for its high compliance standards, is expected to have medium- to long-term growth potential. However, in the short term, there is a risk of a pullback due to the hype surrounding CRCL's listing. If the market's optimistic sentiment towards regulation persists, investors should focus on compliant stablecoin project tokens or the financial application sector, such as cross-border payments and Real-World Assets (RWAs).

In the medium term, attention should be given to the performance of assets related to DeFi protocols that have high integration with USDC. It is crucial to note that any trust issues in audits could negatively impact the overall valuation of stablecoins and market liquidity. This development underscores the growing importance of regulatory compliance and financial applications in the stablecoin sector, positioning USDC as a key player in this evolving landscape.