Circle Internet Corp. (CRCL) continued its impressive market performance with a 7.24% surge in pre-market trading on Friday, building on the momentum from its extraordinary New York Stock Exchange debut and subsequent after-hours gains. The stablecoin issuer's stock has captivated investor attention, reflecting the growing enthusiasm for cryptocurrency-related businesses and the increasing adoption of digital assets in traditional finance.

Circle's initial public offering (IPO) on Thursday was nothing short of spectacular. The company priced its IPO at $31 per share, but opened at $69, more than doubling its initial price. Throughout the trading session, Circle's stock reached as high as $103.75 before closing at $82.88, marking a staggering 167% gain from its IPO price. This robust performance valued the company at approximately $18.3 billion by the end of its first trading day.

The strong investor demand for Circle's shares stems from several factors, including the growing interest in stablecoins and the company's position as the issuer of USDC, the second-largest stablecoin by market capitalization. Additionally, recent progress in stablecoin legislation and increasing regulatory clarity have provided a favorable backdrop for companies operating in the crypto space.

Circle's Chief Financial Officer, Jeremy Fox-Geen, commented on the company's successful debut, stating, "This is a tremendous moment for Circle. But it is still the early days for our mission. We're focused on building and expanding uses of new money technologies." The continued price appreciation in after-hours and pre-market trading suggests that investors see significant potential for growth in Circle's business model and the broader stablecoin market.