Circle, a prominent player in the stablecoin market, has seen its market value soar to approximately $24 billion following its recent IPO on the New York Stock Exchange. The company's stock price surged by 247.42% within two trading days, significantly exceeding initial expectations. The IPO raised $1.1 billion, with demand exceeding supply by over 25 times. Lei Ming, a former investor with Huaxing New Economy Fund, reflected on his 2018 investment in Circle, noting the element of luck involved. At the time, Circle's valuation was $3 billion, and its business focus was not on stablecoins. The investment was driven by the belief in blockchain's potential to generate substantial commercial and social value, with Circle's comprehensive licensing being a key factor. Huaxing Capital remains optimistic about blockchain's future, continuing to explore opportunities in Web3.0 and cryptocurrency assets.