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ETH network growth explodes as GENIUS Bill advances.
Ethereum price today: $2,519.
Ethereum network grows steadily adding nearly 1 million new addresses per week since May. GENIUS bill, which passed the Senate in a 68-30 vote likely acted as a catalyst.
ETH could suffer a strong breakdown if it fails to hold the lower boundary of a key channel..
Ethereum (ETH) is trading around $2,500 in the early Asian session on Friday despite a surge in new address growth over the past month.
The development follows progress in digital assets regulations after the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) bill passed the Senate.
Bitcoin rose above the 20-day exponential moving average ($105,851) on Monday, but the bulls could not sustain the higher levels. The price turned down and fell to the 50-day SMA on Tuesday.
The 20-day EMA has flattened out, and the relative strength index (RSI) is near the midpoint, signaling a possible range-bound action in the near term.
If the price skids below the 50-day SMA, the BTC/USDT pair could plunge to $100,000. Buyers are expected to defend the $100,000 level with all their might because a break below it may sink the pair to $93,000.
On the upside, a break above the 20-day EMA could push the pair to the downtrend line.
If this level is cleared, the pair could rise to the neckline of the inverted head-and-shoulders pattern near $112,800.
$LQTY whenever 7 weeks SMA and 25 weeks SMA did cross each other, price did fluctuate in last 2 Months in 1 Day time spam CHART, as you can in the below image.
USDC is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.
The stablecoin originally launched on a limited basis in September 2018. Put simply, USDC’s mantra is “digital money for the digital age” — and the stablecoin is designed for a world where cashless transactions are becoming more common.
Several use cases have been unveiled for the $USDC . As well as providing a safe haven for crypto traders in times of volatility, those behind the stable coin say it can also allow businesses to accept payments in digital assets, and shake up an array of sector including decentralized finance and gaming.
Overall, the goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers and dApps as possible.
#GENIUSActPass Senate passes GENIUS stablecoin bill, giving crypto industry first major legislative win.
The GENIUS Act establishes the first federal framework for dollar-pegged stablecoins, granting sweeping authority to the Department of Treasury and opening the door to banks, fintechs, and retailers.
Democrats failed to secure a provision barring the president from profiting, even as Trump disclosed earning $57 million from token sales in 2024 alone.
Industry giants like Amazon and Walmart are reportedly moving toward stablecoin-style offerings as payment networks brace for disruption.
First TP: $0.071455 Second TP: $0.071811 Third TP: $0.072522
Stop Loss: $0.065412
$AUDIO
Disclaimer: Please note that this is just my prediction, this is not a signal. If you want to follow this then first do your own research and then go ahead.
Do love your pocket and keep it safe as much as possible.