ARK Invest don sell $51.7M Circle shares for record high, still dey keep long-term stablecoin bet
Cathie Wood and her ARK Invest don sell about 342,658 shares for Circle (CRCL) for their ARKK, ARKW, and ARKF ETFs, the whole thing add up to about $51.7 million. This one happen as Circle share price waka nearly five times the IPO price, show say e rally well well, about 400%. Even though dem make short-term profit, the sale na only about 10% of ARK total money wey dem put for Circle, show say the fund still dey trust the stablecoin sector. Circle, wey be the maker of stablecoin USDC, still dey important for ARK blockchain investment portfolio. ARK recent report talk say stablecoins be ‘financial allies’ of the US, show how Circle strong for blockchain industry. This move mean say investors dey more confident for Circle and stablecoin market, but if ARK cut small from market, e fit cause small wahala like price waka up and down for CRCL and USDC, plus the way people dey trade fit to change small. Crypto traders suppose dey watch well for any price palava or market feeling change for stablecoin and blockchain sectors after this big deal.
Bullish
Di sale wey ARK Invest make for $51.7 million Circle shares come after correct rally, e dey show say dem dey take profit well but e still clear say dem gatchi believe say market go still dey okay as ARK still get 90% of their investment. This move prove say dem get strong confidence for Circle and the entire stablecoin market as ARK talk say stablecoins na 'financial allies' for US. Even though short short wahala fit happen for CRCL and USDC because of this sale, ARK still hold their ground and dem look stablecoins well well, this one fit make the market and trade for long term get better shine.