Crypto companies pause IPO plans due to declining trading volumes and the AI boom reshaping the tech market

Odaily reports that due to weak trading volume and macroeconomic pressures driving valuations lower, crypto companies are pausing their long-awaited IPO plans. Companies such as hardware wallet manufacturer Ledger and MetaMask developer ConsenSys have both postponed their IPOs. Ledger previously planned to list on the New York Stock Exchange with a valuation of 4 billion dollars.

Fundstrat's head of digital asset strategy, Sean Farrell, stated that since the beginning of this year, crypto trading volumes have dropped by about 75%, which has placed pressure on the valuations of publicly listed crypto companies. In contrast, demand remains strong for IPOs of technology companies related to AI.

Additionally, Bitcoin miners transitioning to AI infrastructure have become one of the better-performing sectors in the crypto market. Sean Farrell also noted that Hyperliquid is one of the outstanding crypto ecosystems in 2026, with revenue of approximately 850 million dollars over the past 12 months. Recently, a collaboration with an exchange has made USDC the standard stablecoin on this platform. (coindesk)