To The Moon

$Circle Internet Corp.(CRCL)$ opened at $69 on the first day of listing and closed at $83.32, up 168%

😚 Currency giant Circle merged with special purpose acquisition company (SPAC) Concord Acquisition Corp and officially listed on the New York Stock Exchange on June 5, with an issue price of $31.

According to the valuation expectations made by the public market based on the historical performance of $Circle Internet Corp.(CRCL)$ , CRCL's opening price of $69 has exceeded the corresponding P/E 30x expected valuation price in 2026 (US$65). The closing price of $83.32 corresponds to a valuation of 35 times the P/E.

There are not many institutions that have given expectations for future price expectations. The enthusiasm for short-term market speculation is huge. I can only congratulate the friends who won the lottery.

• $Circle Internet Corp.(CRCL)$ has a current market value of $18.55 billion.

• $Coinbase Global, Inc.(COIN)$ has a current market value of $62.2 billion.

• $iShares Bitcoin Trust ETF(IBIT)$ has a current market value of $69.6 billion

• $Strategy(MSTR)$ has a current market value of $100.7 billion

As a key link between cryptocurrencies and the traditional financial system, stablecoins play an irreplaceable role. They not only provide the convenience and efficiency of cryptocurrencies, but also have the stability of being linked to legal tender. They are widely used in payment, cross-border remittances, decentralized finance (DeFi) and other scenarios.

Data from market research institutions show that the size of the stablecoin market has shown explosive growth in the past few years and is expected to maintain rapid growth in the next few years.

As a leading company in the field of stablecoins, Circle will undoubtedly benefit fully from this industry dividend. However, the cryptocurrency market has always been volatile, and Circle's future development path is not smooth sailing. Factors such as intensified market competition and technical security risks may have an impact on stock prices and business development.

Circle's listing stimulated the movement of related concept stocks. . AI tools were used to search for some Hong Kong stocks and A shares with related concepts. Not recommended as an investment. .

Potential beneficiary stocks in the financial and financial technology sectors

• $ZA ONLINE(06060)$ : ZhongAn Bank, in which ZhongAn Online holds a 43.43% stake, is the first digital bank in Hong Kong to provide reserve bank services to stablecoin issuers; Yuanbi Innovation Technology, which holds an 8.7% stake, is one of the first sandbox participants of the Hong Kong Monetary Authority. Guojin Securities pointed out that ZhongAn Bank's virtual asset business layout is in-depth and is expected to benefit.

• $LIANLIAN(02598)$ : LianLian Digital indirectly holds 100% of LianLian International through multiple wholly-owned subsidiaries. LianLian International cooperates with Yuanbi Technology on stablecoin application projects in cross-border payments. In addition, LianLian Digital's subsidiary DFX Labs has previously obtained the Hong Kong VATP license and officially entered the Crypto field.

• $OSL GROUP(00863)$ : OSL Group is the first listed compliant virtual asset exchange in Hong Kong. OSL Group has established a real asset tokenization (RWA) partnership with Ant Digits. In addition, OSL Group has also partnered with Ethena to launch a stablecoin interest-bearing product to seize the Hong Kong market opportunity.

• $STANCHART(02888)$ : Standard Chartered Group is one of the first institutions to participate in the Hong Kong Monetary Authority's stablecoin issuer sandbox test, and has established a joint venture with Animoca Brands and PCCW to apply for HKMA's stablecoin issuance license.

Potential beneficiaries of cross-border payments and blockchain technology

1. $YEAHKA(09923)$ : YiKa has strong strength in the cross-border payment field and is expected to play an important role in the stablecoin cross-border payment scenario.

2. $LINKLOGIS-W(09959)$ : Lianyirong has profound accumulation in the field of supply chain financial technology. Its business involves scenarios such as cross-border trade, which has a certain degree of fit with the application scenarios of stablecoins.