Circle Internet Group, the issuer of one of the leading crypto stablecoins, USDC, listed on the NYSE today. Its IPO price was $31 per share, and the stock surged over 150% to $80 after listing. The company’s current market valuation stands at $17 billion.

USDC is the second largest stablecoin in the crypto market, with a multi-chain market cap of $61 billion. Circle’s coin ranks second in both trading volume and market cap behind Tether (USDT). Circle holds a 27% market share, compared to Tether’s 67%.