Circle's valuation of $24 billion far exceeds the acquisition offer, while the Bitcoin funding rate remains at a low level.

AltcoinSniper · 2025-06-09T15:36:19+00:00

Matrixport announced that Circle's successful IPO has elevated its valuation to $24 billion, far exceeding previous acquisition offers, igniting Wall Street's enthusiasm for crypto stocks. However, the overall heat in the crypto market remains sluggish, with Bitcoin's funding rate staying low, indicating that investors are hedging risks while pursuing concept stocks.

AltcoinSniper

2025-06-09 15:36:19

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Matrixport said in a post on the X platform that Circle’s valuation has risen to $24 billion through a blockbuster IPO, nearly $20 billion higher than the proposed acquisition price of a trading platform a month ago. In hindsight, the quotation at that time was undoubtedly a “bottom price”. The success of this IPO has undoubtedly rekindled Wall Street’s enthusiasm for crypto stocks. Despite the momentum, the crypto market as a whole did not show the same heat. The data shows that the Bitcoin funding rate not only remained low, but even fell to negative value for a time. This may mean that some investors are hedging their risk by shorting Bitcoin while being long crypto stocks. Regardless of the strategy adopted by investors, this optimism in the public market has not yet been transmitted to crypto assets themselves.

BTC-1,11%

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