pic.twitter.com/wysZZQ9FuR — Nasdaq Exchange (@NasdaqExchange) September 12, 2025The IPO price was also above the expected range between $24 and $26, and the IPO raise placed the company’s valuation at around $3.3 billion. Following the continued drop in share price, Gemini’s market cap has fallen below $3 billion. Its IPO price was $31, but the offering was over-subscribed due to strong demand. As a result, Circle shares opened their first trading day at $69 and closed the session off at $83.23. This marked a 168% gain from the IPO price.