Circle stock rose as much as 235% in its first day as a public company. The stablecoin market is having a moment, also getting attention from lawmakers.

Circle's stock (CRCL) is still gaining on Friday after it exploded higher in its first day of trading, rising as much as 200% in Thursday's session after the stablecoin issuer's long-anticipated public market debut.

Shares of stablecoin issuer Circle Internet Group Inc. stayed hot in its second session of trading on Friday and helped sparked gains in stocks in other cryptocurrency-related companies.