Just look at the robust demand for the initial public offering of Circle Internet Group, the leader in the world of stablecoins. The stock more than doubled in its first few minutes of trading before being halted three times.

Crypto stablecoin issuer Circle Internet Group, Inc. has again upsized its public debut to over $1 billion, pricing 34 million shares at $31 each.

Circle Internet Group Inc.’s initial public offering is likely to price above the marketed range, after fielding orders for more than 25 times the number of shares available in the upsized deal, according to people familiar with the matter.