Last night, the U.S. stablecoin genius bill was passed in the Senate, and the next step is to submit it to the House of Representatives for review. The market estimates that the House will complete its review and voting within a few weeks. Theoretically, there is no suspense about the passage of this stablecoin bill. Now, funds are focused on stablecoins. Based on Trump's USD1, Binance's support is similar to that of BUSD back in the day, becoming the main stablecoin on the platform.
Last night, the U.S. Secretary of the Treasury also expressed his views on the genius bill. He believes that by 2030, the on-chain stablecoin market will reach 3.7 trillion, nearly double the current market cap of Bitcoin. Such a large influx of funds will certainly lead to multiple altcoin bull markets.
However, as mentioned earlier, future altcoin bulls will no longer be a rising tide lifting all boats but will be distinct. The leading projects in on-chain infrastructure and various sectors will reap the rewards, while many smaller coins can only get a taste, and even older coins on existing exchanges may have no relation to the altcoin bull market. Therefore, the most important operation in this round of altcoin trading is to learn to replace junk coins, decisively clearing out projects that are waiting for the market to save them, and focus funds on projects that truly have users, capital, and resources.
Since the beginning of the year, the total amount of stablecoins has been steadily increasing. Even if these funds are relatively dispersed, it stands to reason that a portion should flow into the market and drive the market up. However, the altcoin market has not only failed to rise but has instead fallen more sharply.
Going forward, without too much expectation, I just hope Bitcoin can stabilize and fluctuate over the next 1-2 months, and then create a new high, giving altcoins some time to recover, gain some momentum, and have a small altcoin season.
