Crypto is on fire again. After a deep slump earlier in the year, prices are jumping and new investors are piling in. In a stunning sign of the times, the initial public offering of Circle Internet Group surged some 170% on its first day of trading Thursday.

Gemini goes down the IPO route, amid rising crypto market optimism IPO filing a sign of growing Wall Street interest in digital assets In a notable shift within the stablecoin and crypto markets, Circle’s USDC followed Tether’s USDT in May,

The significant surge in Circle’s first-day trading could prompt institutional investors to set higher IPO prices for upcoming listings. Imminent IPOs include Omada Health, which is pricing on Thursday, and Klarna, a fintech that’s set to list next week.