Ark Invest, one of the technology -oriented investment companies, has recently launched a significant portion of its big share share in Circle. According to the recent transactions, the company sold a total of $ 238.2 million Circle shares between 16 June and 20 June. This sale of the company coincided with the rapid price rise in Circle shares.
Rise in Circle Shares
Circle is known as a financial technology company exporting the US dollar and euro -indexed stablecoin assets. The company is the main organization behind crypto currencies such as USD Coin (USDC) and Euro Coin (EURC). Circle’s shares began to be traded on the New York Stock Exchange on June 5th. The shares rose from $ 69 to $ 103 on the first trading day, but at the end of the same day, it was closed from $ 83.
In the following days, a remarkable rise trend was observed in Circle shares. Especially last week, the US Senate adopted a new legal regulation on stablecoins (Genius), with Circle shares reached record levels. The company’s share price saw its new summit last week with $ 248. At the end of the last process day, the price of Circle shares was recorded as 240.28 dollars.
According to the data released on June 23, Ark Invest sold a big sales of $ 111.6 million in a single day on June 20, and made a major sale in the week. These sales, Circle shares occurred in the days of more than 20 percent increase.
Legal regulations and market impact
The US Senate recently approved a new bill of law, which includes Stablecoin exporters. This arrangement, called GENIUS ACT, as a Genius Act, is foreseen significant changes for the sector. The law requires exporters with a market value of exceeding $ 50 billion, publish monthly reserve statements, publish monthly reserve statements and go through annual independent audits.
Upon the adoption of the regulation, the share values of the relevant companies rose rapidly. Among the main reasons for the price increase in Circle shares, these legal developments and market interest after the company’s public offering came to the fore. In addition, the law in the US Senate was adopted with two -party support. The majority of the 68 members found that the Stablecoin industry was required to have a more transparent and controlled structure.
“New regulation is an important step for new regulation, market stability and investor safety,” US Senate officials said.
Both regulatory developments and share purchase-sale decisions of major investment companies affect the share price. With the stock value exceeding the USDC market value, Circle has become one of the most popular crypto currency shares, which means more entry into crypto currencies.
Circle’s public offering and subsequent legal arrangements show that the interest in financial technologies can continue in the coming period. Time will show whether the company’s market value is sustainable. Increased transparency and audit in the stable digital asset market is carefully evaluated for both users and investors. The adaptation of similar companies to new law requirements may change in competition conditions. In this process, investors are advised to be conscious and cautious about portfolio management.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
