Circle, owner of the USDC stablecoin, debuted on the New York Stock Exchange this week and saw its stock, ticker CRCL, experience a dramatic surge before being halted. The stock price tripled in initial trading, rising more than 200% to $103, exceeding its IPO price of $31 by three times. This volatility was triggered by the Limit Up-Limit Down (LULD) rule which halts trading when stock prices rapidly fluctuate in a short timeframe. Before trading began, Circle’s initial public offering (IPO) had strong demand, resulting in an oversubscribed offering that raised $1.1 billion. 200% surge is reminiscent of recent market events like the GameStop frenzy last year where the stock experienced similar volatility, fueled by social media activity.