Circle Internet Group Inc.’s white-hot debut on Thursday gives the US IPO market a crypto-fuelled shot of adrenalin that could encourage more listings by would-be debutantes — in the digital assets space and beyond.

Circle stock (CRCL) exploded higher in its first day of trading on Thursday, rising as much as 200% at session highs after the stablecoin issuer made its long-anticipated public market debut. At market close,

Trading under the ticker "CRCL," shares of the USDC stablecoin issuer opened at $69 after the upsized initial public offering (IPO) priced Wednesday at $31, above its expected range of $27 to $28. The shares finished at $83.23, rising almost as high as $104 in intraday trading.