Now let's talk about the crypto market over the past two days in simple terms:
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*๐ What happened in the last 2 days?*
- *Bitcoin* has remained around โน87 lakh (104867 USD), no significant rise or fall observed.
- *Ethereum* has also remained around โน2.1 lakh (2518 USD), the atmosphere is calm.
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*๐ข What was the big news?*
- *The USA has passed a new law - GENIUS ACT*, which will bring regulations for stablecoins (like USDT, USDC).
- Now every stablecoin will have to be fully backed by liquid assets.
- Reserves will have to be shown every month.
- People's money will be safer even if a company shuts down.
- Because of this, the market cap of stablecoins has exceeded โน21 lakh crores.
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*๐ But why haven't BTC and ETH gone up?*
- *Tensions between Israel and Iran*,
- *Signs of interest rate hikes from the US Federal Reserve*,
- People are taking their time and not buying much.
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*๐ What to watch now?*
- How these new stablecoin regulations positively affect the market.
- Fed's interest rate and political turmoil in the Middle East.
- If a major institutional player comes in, the market could heat up again.
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*๐ The whole point is:*
- The future looks good for stablecoins.
- ETH-BTC may not have gone up much, but there is stability.
- It's worth waiting for the long-term.
