Gate Research: Trump Announces House Support for GENIUS Act

• Market Commentary: On July 16, the crypto market remained in a consolidation phase. BTC pulled back to around 117,000 USDT, showing weak short-term momentum. ETH outperformed, holding above 3,100 USDT with a bullish technical structure. Last week, Ethereum spot ETFs recorded a net inflow of $289 million—its second-highest on record—indicating sustained institutional interest. The Fear & Greed Index edged down to 70, remaining in the “greed” zone. Altcoins continued to exhibit sectoral rotation patterns.
• Top Gainers: EIGEN rose 11.99%, driven by positive developments from collaborations with Fuel and Boundless. TAO gained 7.96%, fueled by the launch of the wTAO airdrop and the Earn staking platform. ENA climbed 8.08%, supported by a partnership with Neutrl that positioned USDe as a core asset, boosting market attention.
• Alpha Insights: Trump has reportedly reached a consensus to advance the GENIUS Act, with a House vote expected the following morning. The bill could mark a major milestone in U.S. stablecoin regulation, enhancing institutional confidence in compliant assets like USDC. The NYSE approved a leveraged XRP ETF, signaling further integration of Ripple’s ecosystem into traditional finance. Solana’s on-chain RWA total has surpassed $418 million, representing 140% YTD growth and raising its market share to 3.9%.

Discover more details today → Gate Research: Trump Announces House Support for GENIUS Act

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Gate Team July 16, 2025 **Gateway to Crypto** Trade over 4 cryptocurrencies safely, quickly, and easily on Gate **Take Action Now** Sign up and claim up to $10,000 in welcome rewards Invite friends and earn a 40% commission **Stay Connected** Visit Gate's official website Download the Gate App | Desktop Follow us on X (Twitter) to get more bonuses Join our Telegram community to discuss trending topics Engage with our global community for the latest insights **Transparency & Security** Check our 100% Proof of Reserves