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Bullish Shares Surge 160% on Wall Street Debut - Unchained
Crypto exchange Bullish made its public debut on the New York Stock Exchange (NYSE) with an overwhelmingly positive response from investors.
Shares opened 143% higher at $90, surging dramatically from the IPO price of $37 per share. The dramatic rise in price triggered an NYSE volatility halt multiple times during the day.
The company briefly reached a market capitalization of $13 billion during the day, before ending the day’s trade with a value of over $10 billion.
This story is an excerpt from the Unchained Daily newsletter.
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That valuation puts it well above the $5.4 billion the company originally sought when it listed, and ahead of the $9 billion valuation it had targeted in 2021 before scrapping its IPO
Last month, Bullish partnered with the Solana Foundation to drive the use of Solana-native stablecoins across its trading, custody, and settlement operations.
Bullish, which clears over $2.3 billion in daily trading volume, will now aim for real-time settlements with Solana’s blockchain.