- The circle does not notice the offer as it is too low based on the value of the market and its prospects.
- Ripple is diligently expanding its recently launched RLUSD to compete with Tether USDT among others.
Ripple Labs suggested to be on internet Group Inc. for $ 4 billion to $ 5 billion. According to people who are familiar with the matter, the Circle, the second largest outsider of Stablecoin, has turned off the offer and called it very low.
Meanwhile, Ripple has not made another move but remains interested in getting a circle. In addition, the USDC of the Circle has penetrated the global web3 markets to hit a market cap of nearly $ 61.6 billion and a 24 -hour average trading volume of nearly $ 6.9 billion.
“We did not comment on the rumors in the market. While we are currently in a quiet period with the US SEC, we cannot comment on our corporate financial plans. Our long -term goals will remain the same,” Circle spokesman said Bloomberg.
Top factors why ripple eyes round
Complications in the Circle market
Earlier in April, the Circle filed for a preliminary public (IPO) offer with the US SEC, with the aim of listing NYSE under Ticker CRCL. While the Circle revenue increased by 16 percent to $ 1.7 billion yoy, the company's net income and Ebitda fell sharply.
The company relates to lowering the net income with increasing partner costs, stopping service, in addition to operating costs. For example, the company reported increasing distribution and transaction costs from higher fees to its partners led by Coinbase Global.
Prospects in the growth of the future for RLUSD
The Ripple Labs recently launched RLUSD to help the cross-border payment system streamlined, which included backing the XRP adoption. However, the company faces intense competition from existing stablecoins led by Tether USDT.
In addition, RLUSD has experienced significant competition from similar products, such as Donald Trump's USD1 (USD1) supported by World Liberty Financial to exceed $ 2 billion in the market cap.
