Circle's stock (CRCL) is still gaining on Friday after it exploded higher in its first day of trading, rising as much as 200% in Thursday's session after the stablecoin issuer's long-anticipated public market debut.

Circle Internet on Wednesday priced its upsized U.S. initial public offering at $31 apiece, raising $1.05 billion, adding fresh momentum to a growing pipeline of late-stage cryptocurrency firms eyeing public markets.