Ether Races 6% Against Bitcoin as GENUIS Act Puts Spotlight on Yield-Bearing Stablecoins: Analyst
2025-07-16 07:43:18
Main Idea
Ethereum's ether (ETH) is outperforming bitcoin (BTC) due to market anticipation of the GENUIS Act, which may ban yield-bearing stablecoins, reinforcing Ethereum's importance in the digital asset ecosystem.
Key Points
1. The ether-bitcoin ratio rose 5.96% to 0.02670, marking ether's best performance since May 13.
2. The GENUIS Act is expected to ban yield-bearing stablecoins, potentially boosting Ethereum's role in the digital asset market.
3. Ethena's $5 billion synthetic dollar USDe, which generates yield through delta-hedging, is under regulatory scrutiny but may not be classified as a security.
4. The GENIUS Act, approved by the Senate, is set for a House floor vote, with potential implications for stablecoin regulation.
5. Ethena's compliance with U.S. stablecoin regulations could impact its operations, but market sentiment remains bullish on Ethereum.
Description
Ethereum's native token ether (ETH), is gaining ground against bitcoin (BTC), as the impending GENUIS Act is likely to ban yield-bearing stablecoins that promise interest-like returns, according to Markus Thielen, founder of 10x Research. The Binance-listed ether-bitcoin ratio, representing ether's BTC-denominated price, rose over 5.96% to 0.02670 on Tuesday, registering its best performance since May 13, according to data source TradingView. The upswing marked a bullish resolution to the multi-...
Latest News
- Q2 2025: From Balance Sheets to Benchmarks2025-07-16 16:20:29
- Ether Leads Crypto Market Higher as Bitcoin Attempts to Shrug Off Dip2025-07-16 16:20:05
- Bank of America Joins Stablecoin Rush as CEO Moynihan Says Work Already Underway2025-07-16 16:19:21
- It’s Time to Promote the Correct Crypto Allocation2025-07-16 16:18:55
- Altcoin Season Returns? Bitcoin Consolidates With ETH, SUI, SEI Among Those Taking Charge2025-07-16 16:15:30