Shares of stablecoin issuer Circle Internet Group Inc. stayed hot in its second session of trading on Friday and helped sparked gains in stocks in other cryptocurrency-related companies.

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.

Circle Internet Group Inc. is set for a public debut, with shares set to start trading somewhere between $50 and $52 — a pop of more than 60% beyond its IPO price, which is set at $31. However, no official confirmation has been issued yet.

Circle Internet Group Inc.’s white-hot debut on Thursday gives the US IPO market a crypto-fuelled shot of adrenalin that could encourage more listings by would-be debutantes — in the digital assets space and beyond.

Circle (CRCL) debuted to wild upside action on the New York Stock Exchange on Thursday, its shares more than tripling from the IPO price of $31. The event was the culmination of a long journey for the USDC stablecoin issuer, which had been pursuing an IPO for several years.

Circle’s reserve income — derived mostly from interest on the Treasuries backing USDC — rose 55.1% to $557.9 million in Q1. But that income stream is expected to drop as interest rates fall. If the Fed cuts rates in the second half of the year, Circle’s primary moneymaker could take a hit.

Gemini, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, on Friday disclosed it had confidentially filed for a U.S. initial public offering, as digital asset firms seize on renewed market momentum.

Stablecoin firm Circle Internet Group is set to go public later Thursday after pricing its initial public offering above the expected range amid strong interest from investors.

Gemini, the crypto company controlled by the Winklevoss twins, filed its IPO plans with securities regulators after shares of Circle more than doubled during its first day of trading

Just look at the robust demand for the initial public offering of Circle Internet Group, the leader in the world of stablecoins. Circle, which plans to list 34 million shares on the New York Stock Exchange Thursday under the ticker symbol CRCL,