Shares of crypto firm Circle jumped in their stock-market debut Thursday, boosting Wall Street’s hopes that the sleepy market for initial public offerings will warm up this summer. The stock opened at $69.

The cryptocurrency company, which offers fully backed digital money for rapid global payments around the clock, priced its IPO above the expected range.

Circle closed with an $18.4 billion valuation, well below Coinbase’s IPO but ahead of newer entrants like Fold and eToro.