(Reuters) -Circle Internet's shares were set for a strong debut on the New York Stock Exchange on Thursday, a move expected to boost an IPO market that has struggled to regain momentum. The stock was last indicated to trade between $60 and $61 at debut compared with its IPO price of $31.

The stablecoin issuer’s IPO arrives as investors brace for more market headwinds and regulatory change while stablecoin demand grows.

Circle shares surged 168% on the first trading day, opening at $69 after pricing at $31 and peaking at $103.75. Valuation hit $6.8 billion pre-trading,