IPO Circle, the issuer of the USDC stablecoin, attracts attention with a valuation target of $7.2 billion, offering 34 million shares at a price of $31 per share, above the initial range of $24-$26. However, there are concerns from analysts about declining profitability (net income down 42% and EBITDA -29% in 2024) as well as high operational costs, which raise questions about sustainability in the competitive crypto market. Nevertheless, investor interest is high, with demand 25 times the available shares. This IPO could be a significant step for mainstream financial integration, but the risks of crypto market volatility remain a challenge.