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The burgeoning global stablecoin market is propelling the shares of associated emerging tech firms skyward. Circle (CRCL.US), heralded as "the first stablecoin stock," has witnessed its share price skyrocket approximately 500% since its New York listing three weeks ago. However, this meteoric rise has also been accompanied by a steady increase in short positions, capturing the market's attention. In parallel, South Korea's Kakaopay Corp. has seen its stock triple in value over the past month but has subsequently faced offloading by both global and local funds. Amidst this stablecoin-led financial boom, which has generated substantial capital gains, investors are increasingly voicing concerns about the underlying risks and sustainability of the market.
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