Dear crypto community members, this 24 hours has been like a fierce battle among gods! In just the past day, the crypto market has experienced 5 significant events that could rewrite history, each capable of making your wallet tremble. Without further ado, let's get straight to the hard-hitting news!
💥First Update: The US Congress officially passes the cryptocurrency bill, and stablecoins finally have an "identity card"!
According to Mlion.ai analysis, on July 17, the US House of Representatives officially passed the (GENIUS Act), which is the first cryptocurrency-related law passed by Congress in history! This bill establishes a complete regulatory framework for stablecoin issuers, now we just need Trump to sign it into effect.
Once this news broke, Circle's stock price skyrocketed by 19%! Keep in mind that Circle is the issuer of USDC, and this operation is simply a rhythm of counting money while lying down. More importantly, this means that the US government has finally recognized the legal status of stablecoins, which is a strong boost for the entire crypto market!
However, the New York State Attorney General is not buying it and directly criticized the bill for lacking consumer protection measures. It seems that this regulatory drama is far from over, and the subsequent games will be even more exciting.
🔥Second Update: Trump Media Group splurges $2.5 billion to build Bitcoin reserves, what big move are they planning?
More explosive news is coming! Trump Media and Technology Group announced a $2.5 billion private fundraising campaign aimed at establishing enterprise-level Bitcoin reserves. How exaggerated is this figure? This will make them one of the largest corporate Bitcoin holders in history!
According to Mlion.ai analysis, the deeper meaning behind this move is not simple. Trump is using practical actions to tell the world: Bitcoin is the future reserve asset! Imagine, when even the company of the US president is hoarding Bitcoin, what are you still hesitating about?
This wave of operations has directly ignited market sentiment, with Bitcoin prices stabilizing around $119,000. Although the 24-hour increase is only 0.52%, this stability itself indicates the market's recognition of this price level.
📈Third Update: XRP soars by 16.54%, is the altcoin season really here?
The most eye-catching is XRP, which surged 16.54% in 24 hours, reaching $3.57! This increase is simply unparalleled among mainstream coins. ADA is also not to be outdone, rising by 9.58%.
According to Mlion.ai analysis, this collective explosion of altcoins is not a coincidence. As the regulatory environment becomes clearer, funds are beginning to shift from Bitcoin and Ethereum to altcoins, especially those with practical application scenarios, which have received more funding.
Ethereum also performed well, with a 24-hour increase of 3.08%, and trading volume reached $57 billion, surpassing Bitcoin's $49.4 billion. What does this data indicate? It indicates that the market's focus is shifting from Bitcoin to Ethereum and altcoins!
⚡Fourth Update: CFTC commissioner issues a warning, will regulatory policies experience "significant fluctuations"?
Just when the market was in a festive mood, outgoing CFTC commissioner Christy Romero poured a bucket of cold water. In her farewell speech at the Brookings Institution, she warned that "significant fluctuations" in regulatory policies between strict and relaxed regulations could jeopardize the integrity of the US financial market.
This statement sounds like: don't celebrate too early, the direction of regulation could change at any time! This uncertainty is a double-edged sword for the market, which could bring both opportunities and risks.
According to Mlion.ai analysis, the uncertainty of these regulatory policies is one of the important reasons for the current market volatility. Investors need to pay close attention to changes in policy trends and be prepared to respond.
🌍Fifth Update: Global central banks are worried about the rise of dollar stablecoins, is a currency war about to begin?
The last significant news comes from the international level. Institutions like the Bank for International Settlements are beginning to warn that the rapid growth of dollar-backed stablecoins may threaten the monetary sovereignty and financial stability of various countries.
The deeper meaning of this news is very intriguing. While the US is promoting the legalization of stablecoins, it is actually expanding the global influence of the dollar. Other countries are clearly unwilling to see this happen, which could trigger a new round of currency competition.
According to Mlion.ai analysis, this international-level game will have a profound impact on the cryptocurrency market. Countries may accelerate the launch of their own central bank digital currencies to counteract the expansion of dollar stablecoins.
🎯Summary and Outlook
These 5 major news items in the past 24 hours are each capable of influencing market direction. From the passage of legislation in the US to Trump's Bitcoin reserve plan, from XRP's surge to the uncertainty of regulatory policies, and to the international currency games, the entire crypto market is undergoing an unprecedented transformation.
For us frontline investors, the most important thing now is to maintain a sharp market sense and obtain the latest market information and professional analysis in a timely manner. After all, in this rapidly changing market, information is money, and speed is life!
Want to grasp these significant news and professional analyses as soon as possible? You might want to follow some professional cryptocurrency analysis platforms, where you can find deeper market interpretations and investment advice to help you seize more opportunities in this magnificent bull market!
Remember, opportunities are always reserved for those who are prepared. In this unpredictable market, only by maintaining learning and attention can you laugh last in the next wave of行情!
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Please note that all investments carry risks, and investors should make their own judgments and bear corresponding responsibilities.
Source: mlion.ai