Bitcoin Exchange Reserves Decline Amid Stablecoin Growth Following GENIUS Act Passage
Main Idea
Bitcoin exchange reserves declined in July as investors moved BTC off exchanges, signaling bullish sentiment, while stablecoins saw significant growth following the GENIUS Act's passage, boosting crypto adoption.
Key Points
1. Bitcoin exchange reserves dropped 2% in July and 14% since January 2025, indicating long-term holding by investors and potential bullish supply dynamics.
2. The stablecoin market cap increased by nearly $4 billion post-GENIUS Act, surpassing $250 billion, with monthly active addresses growing over 20% to 38 million.
3. Tokenized real-world assets (RWAs) exceeded $25 billion in July, growing 2.6%, driven by private credit and US Treasury debt, though legal uncertainties remain for tokenized stocks.
4. Missouri, New Hampshire, and Oregon enacted crypto-related laws in July, while Arizona vetoed a crypto reserve bill due to enforcement concerns.
5. Global regulatory approvals, such as MiCA licenses in Europe, are shaping crypto firms' operations, with Ripple and Circle pursuing US banking licenses.
Description
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