6 hours ago
With the near-passage of the GENIUS Act and a big of companies announcing stablecoin initiatives, stablecoin-related assets person been connected a tear.
Circle, issuer of USDC, has seen its banal emergence astir 500% since its debut connected June 5. This week, the institution was valued astatine a staggering $77 billion, which is good supra the full marketplace headdress of USDC itself (about $62 billion).
Bullish signals for stablecoins were each around:
CRCL is present the astir popular overseas banal successful South Korea.
The starring stablecoin issuer, Tether, has truthful overmuch spare currency it tin spend to person a determinative involvement successful Juventus, an Italian shot team.
Coinbase, which really makes much wealth from USDC than Circle, has seen its banal emergence to its highest level successful 4 years.
Even Euro-backed stablecoins, agelong a forgotten relative of USD coins, are surging. Combined, they’re up 44% connected the year, led by Circle's EURC.
Stablecoins are the "quiet winners" from prediction markets similar Polymarket.
And truthful on.
Traditional outgo giants, similar Mastercard and Visa, person been responding to stablecoin mania by making a flood of announcements of their own. Mastercard announced caller tie-ups with Moonpay, Chainlink and Kraken this week.
Amid each the stablecoin news, we inactive had abstraction for plentifulness of different topics.
SEI surged arsenic well (albeit connected stablecoin news).
The Federal Reserve officially said crypto nary longer carried “reputational risks” for banks, leaving them to supply each the fiscal services they privation for crypto companies.
World Liberty Financial, the Trump household vehicle, reversed a committedness to marque its token non-transferable.
In the summertime months, sometimes it tin consciousness similar thing overmuch is happening. Not this year; crypto doesn’t hold for anyone.
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