Key Takeaways
- Bitcoin slipped below $100K amid Middle East tensions, but crypto-focused stocks held their ground.
- Circle surged to $257 in pre-market trading, up more than 800% since its IPO.
- Coinbase and MicroStrategy also posted gains, supported by strong investor sentiment and regulatory tailwinds.
As crypto markets reeled from a sharp correction triggered by escalating conflict in the Middle East, a handful of crypto-linked stocks bucked the trend, rallying even as billions were wiped from the broader market.
Bitcoin (BTC) briefly dropped below $99,000, with the total market shedding over 7% in 24 hours and $1.15 billion in leveraged positions liquidated. Yet stocks like Circle (CRCL), Coinbase (COIN), and Strategy (formerly MicroStrategy) showed notable resilience.
Circle Keeps Climbing, COIN and Strategy Stay Strong
Circle (CRCL), which went public earlier this month at $31 a share, has continued to defy gravity.
After surging past $240 last week, the stablecoin issuer’s stock hit $257 in Monday’s pre-market trading, an 8x rally in just a few weeks.
CRCL saw a 404% gain by mid-June, followed by a 33% daily spike to $199.59 on June 18. Within days, it had rallied another 80%, making it one of the top-performing IPOs of the year.
The buzz continues, fueled by institutional demand and Circle’s central role in U.S. crypto infrastructure.
Coinbase (COIN) is also riding the wave. The exchange’s stock climbed to $308, up 30% over the past week, benefiting in part from its strategic stake in Circle and renewed optimism around U.S. crypto regulation. It’s now nearing its previous all-time high.
Meanwhile, Strategy (MSTR) pushed back into the green during pre-market hours, trading at $369 as of Monday morning . Despite Bitcoin’s dip, the company’s massive BTC reserves remain a draw for bullish investors.
IPO Momentum Building in the U.S.
The resilience of crypto stocks comes as IPO momentum builds across the industry.
Circle’s blockbuster listing has reinvigorated interest in crypto public offerings, especially as the regulatory tide in the U.S. begins to turn.
Donald Trump’s return to power and his pro-crypto stance have helped ease the pressure on companies once bogged down by compliance crackdowns.
Key legislation—like stablecoin frameworks and crypto market structure bills—are now advancing in Washington.
More than a dozen crypto firms are exploring IPOs, with names like Gemini, Kraken, Bullish, and Fireblocks expected to file soon.
If market conditions hold, the U.S. could become the global capital for crypto stock listings.
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