Markets
“Secondary” cryptocurrency prices rise as IPO expectations grow
Crypto funds and private investors are buying shares of private digital asset companies in anticipation that some of them could go public in the coming months.
Stocks in companies such as stablecoin issuers Financial Internet circlecryptocurrency exchange Kraken and blockchain forensic services provider Catenaanalysis has been trading more actively recently and many of the steep discounts from a year ago have receded, according to several trading venues. According to Forge Global, a secondary market platform, buy-side demand for cryptocurrencies in the first half of 2024 is 28% higher than the second half of last year and 126% higher than the first half of 2023.
