Gemini Space Station, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has received over 20 times more orders for its U.S. IPO than available shares. The IPO’s pricing on Thursday reflects strong investor interest in crypto listings, with IPO proceeds capped at $425 million to manage demand.

Gemini has raised the price of its 16.67 million shares to between $24 and $26 each, up from an initial range of $17 to $19 due to robust demand. At the top end of the range, Gemini’s market value would exceed $3 billion. The company is set to start trading on Friday.

The cryptocurrency sector is experiencing a surge in listings, driven by regulatory support, corporate adoption, and ETF inflows. Recent successes include Figure Technology’s $787.5 million IPO, with Bullish and Circle also expanding their offerings. The total market value of the sector has surpassed $4 trillion.

Read more at Yahoo Finance: Exclusive-IPO of Winklevoss-founded crypto exchange Gemini over 20 times oversubscribed, sources say