Understanding the Market | CR HOLDINGS opened nearly 15% higher as the first stablecoin stock Circle listed on the New York Stock Exchange, with its fund participating in the investment in 2018

CR HOLDINGS opened nearly 15% higher, and as of the time of writing, it rose 14.95% to HKD 4.46, with a trading volume of HKD 2.4954 million. In terms of news, the stablecoin "first stock" Circle Internet Group Inc. (CRCL) surged 122% on its first day of trading in the U.S. IPO, reaching USD 69, far exceeding the previously set IPO issue price of USD 31 per share. Circle's stock once soared 235% during the session, hitting a high of USD 103.75. By the close of U.S. markets on Thursday, Circle's stock had risen nearly 170%. CR HOLDINGS announced that its managed Huaxing New Economy Fund invested in Circle in 2018. The company stated that this reflects the team's optimism about the development prospects of the digital asset industry, and it will continue to be optimistic about the development of blockchain technology in the future. It is actively exploring layouts in the Web 3.0 and cryptocurrency asset fields to continue leading the development of innovative technology frontiers and aims to become a leader in Web 3.0 investment banking