Circle IPO valuation skyrockets to $24 billion, but Bitcoin funding rate falls into negative territory.

AltcoinSniper · 2025-06-09T17:34:44+00:00

Matrixport said that Circle's IPO success brought its valuation to $24 billion, far exceeding previous takeover offers, rekindling Wall Street's interest in crypto stocks. However, the overall heat of the crypto market is not high, and the Bitcoin funding rate is sluggish, and some investors choose to short Bitcoin to hedge their risks.

AltcoinSniper

2025-06-09 17:34:44

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According to reports, Matrixport posted 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.

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