Shares of Circle surged after its debut as a public company, but the crypto player may face headwinds if the Federal Reserve cuts interest rates further this year.

With Bitcoin (BTCUSD) prices up nearly 50% over the last year and currently trading above $104,000, the frenzy is clearly returning to the cryptocurrency arena. As evidence of this, the excitement surrounding the initial public offering of stablecoin issuer Circle,

USDC stablecoin issuer Circle Internet Group made a powerful and successful public stock debut. The listing is seen as a key step for integrating stablecoins into the global financial system.