Blockchain lending platform Figure made a strong debut on Nasdaq, with shares closing at $31.11, a 24% gain from the $25 pre-sale price. The company now has a $6.6 billion market cap with 211.66 million shares outstanding. Figure’s steady trading pattern reflects institutional confidence in its tokenized credit model.

Figure’s IPO proceeded without trading halts, unlike recent crypto IPOs, and the company reached an intraday peak of $36.13. Analysts project Figure could double to $40 per share within 12 months and has potential upside to $60-75 over 18-24 months. The firm operates the first scaled institutional-grade on-chain lending platform.

Figure controls approximately 2.9% of the $406 billion US home equity line of credit market and Sigel estimates the company can sustain 30% revenue growth with 40% EBITDA margins, targeting $1.3 billion revenue and $520 million EBITDA by 2027. The successful debut validates institutional demand for blockchain-enabled financial infrastructure.

Read more at Yahoo Finance: Figure debuts with 24% gain as blockchain lending platform achieves $6.6 billion valuation