I haven't been following CRCL for a long time. Looking back, I found that it had already fallen below the opening price on the first day, reaching $49.9 at one point, but now it has rebounded back to around $61. At the time of its listing, people in the cryptocurrency industry were not optimistic about it and thought it was just a stablecoin. However, within a month, it nearly tripled and the stock price soared to nearly $300, showing great success. When the cryptocurrency community begins to react, it is the standard peak trend: High volume trading, institutional cash out, and then a continuous decline. In my impression, the last bull market ended with the listing of Coinbase, followed by a long period of decline and washout; Did this bull market come to an end with the listing of Circle in the later stages? In the next bull market, there will be another concept IPO in the cryptocurrency circle, and we must pay attention to it!