Crypto keeps the market alive amidst overwhelming market uncertainties. But deep signs spread across the internet as the news of Circle halting thor IPO breaks out in the middle.
Circle is a major stablecoin in the news for a long time. But if sources are to be trusted, Circle’s IPO project could be stalled for now.
The stablecoin has its assets in place. But the recent Trump tariff wave can send the IPO project to brackish waters.
Circle’s Asset Wealth
Despite the economic dismay in the market, Circle is flaunting an otherwise decent market status. Last year, the company scored a revenue of $1.67 billion. The Y-o-Y growth rate being 16%, which is massive, as experts say.
In the meantime, their net market cap has crossed $60 billion. However, the extended market fears a paradox that still keeps bugging it. Circle, the launcher of USDC, the USD-pegged coin, is hesitating to break the resistance band.
What Happened This Week?
On April 1st, Circle was registered with the SEC. But he market’s approval is yet to come. Meanwhile, it would be hard for the frail market to put its trust in an emerging coin. On top of that, Trump’s tariff decisions can send negative flares, making the situation worse.
As soon as the tariff announcement came in, the crypto market lost $2 trillion in valuation.
What Does The VIX Index Say?
Currently, the index is stuck at 41. A mark that speaks volumes about impending fear in the market. Most of the traditional assets are in a dicey position. Some cryptos are trailing behind their support level.
Only a few are showing positive growth signs. For example, SOLANA has slightly revived from the dismay that it faced last week. However Bitcoin and other stablecoins are showing no growth signs.
