(Reuters) -Stablecoin issuer Circle Internet’s shares climbed 41% to hit a record high on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier.

The New York-based company’s stock touched as much as $117.45, more than triple its offer price of $31 and valuing the company at $30.5 billion on a fully diluted basis.

The blockbuster listing also reinforced expectations that the IPO market was regaining its momentum after being stifled by tariff-driven volatility.

“This is big enough that it extends beyond crypto,” said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs.

Wall Street executives also struck an optimistic tone on Thursday at an industry conference, emphasizing that markets were

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