Crypto Companies Pause IPO Plans Amid Trading Volume Decline and AI-Fueled Tech Market Reshaping

Odaily Odaily news reports that due to weak trading volumes and macro pressures depressing valuations, crypto companies are pausing their long-awaited IPO plans. Hardware wallet manufacturer Ledger and MetaMask developer ConsenSys are among the firms that have delayed their IPOs. Ledger had previously planned to list on the New York Stock Exchange with a valuation of up to $4 billion.

Sean Farrell, Head of Digital Asset Strategy at Fundstrat, stated that crypto trading volumes have dropped approximately 75% this year, putting pressure on the valuations of publicly listed crypto companies. In contrast, IPOs for tech companies related to AI continue to see strong demand.

Additionally, Bitcoin miners pivoting to AI infrastructure have become one of the better-performing segments in the crypto market. Sean Farrell also pointed out that Hyperliquid is one of the standout crypto ecosystems in 2026, generating approximately $850 million in revenue over the past 12 months. Its recent partnership with Coinbase has established USDC as the platform's canonical stablecoin. (coindesk)