Shares of Circle surged after its debut as a public company, but the crypto player may face headwinds if the Federal Reserve cuts interest rates further this year.

Circle Internet Group’s share price continues to increase, rising on Friday as much as 25% from its previous close, a day after the stablecoin issuer’s more than doubled from the IPO price.

The successful debuts of Circle and CoreWeave could lead to more unicorns going public. Keep an eye on fintech Chime and defense firm Voyager.