Stablecoin issuer Circle Internet Group Inc.’s stock stayed hot on Friday, in its second session of trading, and helped sparked gains in shares of other cryptocurrency-related companies. A lift also came from Robinhood Market Inc.

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

Circle pushed markets into rally mode on Friday after its shares spiked 48%, extending the chaos it kicked off with a massive NYSE debut the day before.

While Wall Street insiders enjoyed a first day "pop," it appears Circle could have pocketed much more from its debut.

Circle Internet Group (NYSE:CRCL) kicked off Friday with a 20% premarket pop, building on Thursday's epic 169% debut when shares soared to $83.54 from the $31 IPO price. Thursday's upsized offering raised nearly $1.

Circle's $1.1 billion IPO on Thursday highlighted Wall Street's increasing interest in stablecoins, particularly Ethereum. With over half of USDC's supply on Ethereum, the network stands to benefit from USDC's growth in DeFi. Analysts believe this development will bring more liquidity and excitement to Ethereum.

Cameron and Tyler Winklevoss, who founded Gemini in 2014, were among the most vocal critics of the regulatory clampdown on digital assets companies. Both became active supporters of Trump, contributing to his campaign and to a political action committee funded by the industry to support pro-crypto politicians in Washington.

Stablecoin issuer Circle Internet's shares climbed 48% on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier.

Circle’s stock price soared alongside its IPO, capturing Wall Street’s growing embrace of digital dollars for years to come, analysts say.