Is History Repeating? Circle’s IPO Sparks Memories of Coinbase’s 2021 Surge
Coinbase’s April 2021 IPO marked a significant peak for Bitcoin and the crypto market as a whole.
Fast forward to June 5, 2025: Circle (NYSE: CRCL), the issuer behind the USDC stablecoin, made a dramatic debut on the New York Stock Exchange, with shares soaring more than threefold from the initial $31 offering price. This landmark moment caps years of anticipation and effort as Circle finally entered the public markets.
The rapid price surge and market excitement around Circle’s debut have prompted comparisons to Coinbase’s explosive listing in 2021. Many are asking: Is it 2021 all over again?
As Circle continues to chart its course, investors and market watchers alike are keenly observing whether this milestone signals a new chapter for stablecoins and crypto infrastructure — or if it echoes the past’s volatile highs.
