Stablecoins Grow While Bitcoin Investors Cautious In July
The post Stablecoins Grow While Bitcoin Investors Cautious In July appeared on BitcoinEthereumNews.com. Crypto market analysts are optimistic as July winds to a close, and Bitcoin reserves on crypto exchanges are down 2% on the month. This is a bullish signal. A decrease in exchange reserves indicates people are taking their Bitcoin (BTC) off exchanges and holding it, anticipating the price to go higher. While 2% on the month sounds like small potatoes, it continues the overall decrease in exchange reserves since January. In the US, the House of Representatives passed three crypto laws in July. One of them — the GENIUS Act regulating stablecoins — was signed into law by President Donald Trump. With set rules for stablecoins, and a regulatory framework in the form of the CLARITY Act making its way through the Senate, observers predict substantial growth in the stablecoin sector. The value of tokenized real-world assets (RWAs) continues to grow, with total RWA value onchain growing by 2.6%. Firms are embracing tokenized stocks, but further adoption could come with legal trouble. Here’s July by the numbers. Stablecoin market adds $4 billion in market cap as GENIUS Act becomes law On July 18, Trump signed the GENIUS Act into law, which set out a series of regulations for the stablecoin industry. It didn’t include provisions for stablecoin issuers to offer their customers interest — a major sticking point from industry bigwigs like Coinbase CEO Brian Armstrong — but the law was hailed as a major step forward for the crypto industry. In July, nearly $4 billion was added to the stablecoin supply, bringing the overall market cap of stablecoins above $250 billion. Stablecoins have also become more active. The number of monthly active addresses was up over 20% in July to over 38 million. This reflects growing adoption of stablecoins, the total transaction value of which reached over $7 trillion…
The post Stablecoins Grow While Bitcoin Investors Cautious In July appeared on BitcoinEthereumNews.com.
Crypto market analysts are optimistic as July winds to a close, and Bitcoin reserves on crypto exchanges are down 2% on the month. This is a bullish signal. A decrease in exchange reserves indicates people are taking their Bitcoin (BTC) off exchanges and holding it, anticipating the price to go higher. While 2% on the month sounds like small potatoes, it continues the overall decrease in exchange reserves since January. In the US, the House of Representatives passed three crypto laws in July. One of them — the GENIUS Act regulating stablecoins — was signed into law by President Donald Trump. With set rules for stablecoins, and a regulatory framework in the form of the CLARITY Act making its way through the Senate, observers predict substantial growth in the stablecoin sector. The value of tokenized real-world assets (RWAs) continues to grow, with total RWA value onchain growing by 2.6%. Firms are embracing tokenized stocks, but further adoption could come with legal trouble. Here’s July by the numbers. Stablecoin market adds $4 billion in market cap as GENIUS Act becomes law On July 18, Trump signed the GENIUS Act into law, which set out a series of regulations for the stablecoin industry. It didn’t include provisions for stablecoin issuers to offer their customers interest — a major sticking point from industry bigwigs like Coinbase CEO Brian Armstrong — but the law was hailed as a major step forward for the crypto industry. In July, nearly $4 billion was added to the stablecoin supply, bringing the overall market cap of stablecoins above $250 billion. Stablecoins have also become more active. The number of monthly active addresses was up over 20% in July to over 38 million. This reflects growing adoption of stablecoins, the total transaction value of which reached over $7 trillion…
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