📰From "the first stablecoin" to the "ankle cut" in stock price: Why Circle quickly fell from the spotlight into a revaluation cycle #Circle's stock price rapidly retreated from its initial high after going public, reflecting a shift in the stablecoin industry from frenzy to rational reevaluation. As the premium diminishes, competition intensifies, interest rate outlook shifts, and the lock-up period approaches, all jointly drive the market to reassess the true value and growth prospects of this "first stablecoin" company.