Figure Technology Solutions (FIGR) is experiencing a significant pre-market surge of 5.34% on Friday, building on its impressive initial public offering (IPO) performance from the previous day. The blockchain-based lending platform's stock, which debuted on Thursday at $25 per share, closed its first trading day at $31.11, marking a 24.44% increase.

The continued upward momentum can be attributed to several factors. Firstly, Figure's IPO raised $787.5 million, valuing the company at approximately $6.6 billion - more than double its 2021 private valuation of $3.2 billion. This successful debut has sparked investor interest in the company's innovative use of blockchain technology in financial services, particularly in streamlining lending processes such as home equity loans.

Moreover, Figure's strong performance is part of a broader trend of enthusiasm for crypto-related IPOs. The company's success follows closely on the heels of other notable crypto firms going public, such as Gemini Space Station, which is set to start trading on Friday after pricing its IPO at $28 per share, above its expected range. This surge of interest in blockchain and cryptocurrency-related stocks is driving up demand for companies like Figure that are at the forefront of applying these technologies to traditional financial services.