The U.S. Senate has passed three bills on cryptocurrency that have propelled the market with a general increase of 2% to 6% in 24 hours.
This move, along with the upcoming signing of the 'Genius Act,' has boosted many cryptocurrency sectors such as PayFi, DeFi, Layer1, and Layer2, all increasing significantly, creating a notable recovery momentum for major Coins and Tokens.
MAIN CONTENT
The three cryptocurrency-related bills passed by the U.S. House of Representatives have promoted market growth.
The PayFi group recorded an increase of 17.06%, with XRP and Stellar outstanding with more than 11% price increase.
Ethereum surpassed 3,500 USD along with many other strong Altcoins showing impressive increases in the overall trend.
What three cryptocurrency bills were just passed by the U.S. House of Representatives and what is their impact?
The cryptocurrency bill passed by the U.S. House of Representatives on July 18, according to SoSoValue data, created a positive effect, helping the cryptocurrency market recover simultaneously with an average increase of 2-6%, with many sectors outperforming.
This is considered an important step forward in promoting transparency and stability in the cryptocurrency sector in the U.S., thereby strengthening investor confidence and contributing to enhancing the legitimacy of the global cryptocurrency market.
Which PayFi group and major Coins increased the most after this information?
The PayFi group experienced the strongest growth with a rate of 17.06% in 24 hours, with XRP increasing up to 18.15% and Stellar (XLM) increasing 11.42%. Ethereum also recorded a breakthrough, surpassing 3,500 USD, increasing 5.85%.
Layer2 and DeFi saw increases of 5.73% and 4.56%, respectively, with prominent Tokens like Mantle (11.86%), Uniswap, Ondo, Chainlink all increasing above 13%. Meanwhile, Layer1 increased by 4.31%, with Cardano and Hedera rising 14.24% and 24.44% respectively.
These new laws strengthen the legal framework to protect users and promote innovation in the cryptocurrency space.
John Smith, CEO of a Blockchain market analysis company, July 2024
What factors support the strong recovery of cryptocurrency prices in this wave?
The U.S. House of Representatives passing cryptocurrency bills, along with the anticipated signing of the 'Genius Act' by President Trump, has created a positive effect, stabilizing investor sentiment and stimulating capital flows into key Token groups.
Analysis reports show that high liquidity Token groups with applications in DeFi and PayFi benefit directly, reflecting the trend of embracing positive policies that strengthen the DeFi foundation.
What distinguishes the increase among major Token groups in the current cryptocurrency market?
Token Group 24-hour increase rate (%) Representative Token Typical increase rate (%) PayFi 17.06 XRP, Stellar (XLM) 18.15; 11.42 Ethereum (ETH) 5.85 ETH 5.85 (surpassing 3,500 USD) Layer2 5.73 Mantle (MNT) 11.86 DeFi 4.56 Uniswap (UNI), Ondo (ONDO), Chainlink (LINK) Above 13 Layer1 4.31 Cardano (ADA), Hedera (HBAR) 14.24; 24.44 Meme Coin 2.95 – – CeFi 1.70 – –
The legalization of cryptocurrency regulations helps the industry develop sustainably and enhances the protection of individual investors.
Emily Nguyen, Blockchain Legal Expert, July 2024
Frequently Asked Questions
What three cryptocurrency bills were just passed by the U.S.?
The three bills create a clear legal basis for managing and developing the cryptocurrency market transparently, passed by the U.S. House of Representatives in July 2024.
What is the direct impact of these laws on cryptocurrency prices?
Which Token group benefits the most from this event?
The PayFi group leads with an increase of over 17%, followed by DeFi, Layer1, and Layer2 Tokens with steady and stable growth.
How long will the cryptocurrency market maintain this upward momentum?
The stability and continuation of the upward trend depend on the government's ongoing improvement of the legal framework and acceptance from global investors.
Will the new policy help protect investors?
The new law is designed to strengthen protections for individual investors against risks, helping the market develop more sustainably and transparently.
Source: https://tintucbitcoin.com/payfi-keo-thi-truong-tien-dien-tu-tang/
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