$BTC $ETH web3: U.S. Senate to push CLARITY Act again in September Mars Dog🐶Mar_vin, first posted on BSC The U.S. Senate will not submit the CLARITY Act cryptocurrency market structure bill for formal consideration before the August recess, but the bill has not been shelved. Multiple people familiar with the matter revealed that Senate Majority Leader John Thune plans to file a cloture motion before lawmakers leave Washington, laying the groundwork for procedural votes after Congress reconvenes in September. Procedural vote milestone arrives in September Filing a cloture motion does not mean the bill will pass directly; the move is only used to initiate the process of ending debate. Under Senate rules, the motion requires the support of 16 senators' signatures; the subsequent vote to end debate requires 60 votes for the bill to continue advancing. This also means that Republicans and the parties involved in the negotiations still have several weeks to resolve remaining differences while seeking support from more senators. Coinbase CEO Brian Armstrong said the delay in the vote was regrettable, but welcomed Thune's commitment to restart work on advancing the bill in September. He said the industry has spent a year negotiating around the bill, and Congress now needs to complete the subsequent legislative process. Stablecoin yield provisions become the core dispute The primary disagreement in the current negotiations concerns provisions related to stablecoin yields. Driven by discussions sparked by a Wall Street Journal opinion article, the banking industry has also begun lobbying Republican senators to revise the wording of the provisions, making the issue the focus of negotiations once again. In addition to the stablecoin provisions, the bill's negotiations face multiple obstacles: the two parties have yet to reach consensus on an ethics agreement, disagreements remain over anti-illicit-finance provisions, and the banking industry continues to oppose some provisions. Reports indicate that after several rounds of lobbying, the bill has also encountered resistance within the Republican Party, with opposition from local small and midsize banks particularly prominent. Senator Mike Rounds acknowledged that the banking industry has an advantage in communications, as many senators themselves maintain close ties with local banking professionals. The White House has yet to respond on the bipartisan ethics agreement. However, as the Senate vote has been postponed until September, pressure on the White House to respond quickly has eased somewhat. Even though the congressional legislative process has been temporarily delayed, cryptocurrency regulation in the United States has not come to a complete standstill. Armstrong noted that stablecoin adoption, perpetual contract trading, and real-world asset tokenization are continuing to develop, while ordinary consumers are gaining access to an expanding range of crypto products. Coinbase Chief Policy Officer Faryar Shirzad said regulatory agencies under the Trump administration are relying on existing legal authority to issue clearer regulatory rules, while governments and financial institutions outside the United States are also continuing to develop crypto-related businesses. ✨Ma_rvin This dog IP's appeal🔥 lies largely in its story of family-like companionship📌. When Musk was in trouble and under immense pressure, it remained by his side. Combined with the setting of SpaceX's Mars ambitions and drawing on the established dog Meme culture, its genuine and heartwarming experiences form its core. Senator Cynthia Lummis said after the vote was postponed that work on advancing the bill was far from over. September will be a crucial window, while the Senate will have only 14 effective legislative days to handle the bill before its October recess and the start of the midterm election campaign season. #CLARITY法案投票窗口即将关闭 #非农爆雷降息预期逆转

ETH ETFs are no longer just a “bet on price.” Grayscale is pushing forward a fairly important change: Selling the staking rewards generated by its Ethereum Staking ETF for cash and distributing them to ETF holders at least once per quarter. Put simply: Previously, buying an ETH ETF mainly meant profiting from ETH’s price increase. In the future, investors may also receive cash directly from the rewards generated by ETH staking. I think this is more significant for ETH’s long-term prospects than whether it rises or falls 3% in a single day. Because for traditional institutions, ETH is suddenly starting to look more like: “A digital asset that generates yield.” This is also one of the biggest differences between ETH and BTC. Of course, don’t interpret this as meaning ETH is about to surge immediately. Staking yields themselves are not high, and fees still have to be deducted. The ETF will also sell part of the rewards for cash. But if institutions such as BlackRock and Grayscale continue integrating staking into ETFs, the institutional investment thesis for ETH will indeed change: BTC is more like digital gold. ETH, meanwhile, is beginning to move toward being a “digital asset + yield-generating asset.” My view: This may not be a major short-term catalyst. But over the long term, this is easier for Wall Street to understand than many so-called ETH technical upgrades. $ETH #Ethereum #ETHETF #Staking

Why am I firmly bearish on ETH? The core logic explained in plain English First, the actual price: ETH is currently hovering around $1,900, struggling to form a bottom. Its all-time high was over $4,900, meaning it has already been cut in half—and then cut in half again. Many people think it has fallen enough and want to buy the dip, but let me be clear: ETH’s decline is far from over. Entering now is like catching a falling knife. Here are five real reasons even beginners can understand: 1. The ultimate scarcity narrative has completely collapsed ETH’s core selling point that was hyped across the entire market: more ETH is burned than issued, the total supply is deflationary, and the asset becomes scarcer with use, making long-term price appreciation inevitable. Now that narrative has been completely disproven! As major L2s have become fully widespread, on-chain gas fees have been diluted almost infinitely, and ETH’s daily burn has nearly dropped to zero. Over the past 90 days, only 5,200 ETH has been burned across the network, while staking nodes generated as many as 254k new ETH, sending the net inflation rate directly to 0.21%. Put simply: The amount of ETH printed every day far exceeds the amount burned. It has gone from scarce and deflationary to persistently inflationary. ETH’s most valuable story and biggest bullish driver have completely failed. 2. It is being completely crushed by BTC, and its position as number two is in jeopardy There is no need to look at complicated candlestick charts; the ETH/BTC ratio says it all. The ratio has recently continued to hit multi-year lows, which is the clearest vote by capital. Both are major coins, but when the market rebounds, BTC rises steadily and holds up well, while ETH moves sideways weakly; when the broader market corrects, ETH falls more and rebounds less. The market now recognizes only BTC for hedging and preserving value, while completely abandoning ETH. The crypto market’s number-two asset is steadily losing its appeal to capital and market weight, and its long-term weak trend is now firmly established. 3. Institutional smart money continues to exit and is not taking the other side Many retail investors are still stubbornly holding on, but institutions voted with their feet long ago. Spot ETH ETFs have continued to see net outflows over the long term, with no sustained inflow of new capital. Consider this simple calculation: U.S. Treasuries now offer a steady risk-free yield of 5%+, while ETH staking yields only 2.6% annually. When low-risk investments offer effortless returns, who would risk the possibility of a crypto market crash and black swan events to stake ETH? Institutional capital continues to withdraw, with no new institutions entering, so the market has no basis for a sustained recovery. 4. Technicals remain weak throughout, with key resistance firmly capping the price ETH’s recent price action has been extremely ugly. Two attempts to break through the key $2,000 resistance level have both failed, forming a textbook weak double-top pattern. The price has remained within a descending channel throughout, with every rebound coming on lower volume and luring buyers in, only to fall after rising. The current $1,900 level is merely temporary support. Once it breaks, there is no meaningful support below, and the price could fall directly toward the $1,600–$1,500 range. Leveraged positions are concentrated across the market, and once a decline begins, cascading sell-offs could have no floor. 5. Market liquidity continues to dry up, and an illiquid market cannot rise Market rallies are driven by capital, but fresh liquidity is continuously drying up across the entire market. Core compliant stablecoins such as USDC continue to see net outflows from exchanges, leaving fewer and fewer bullets in the market, while new capital has nearly dried up. The crypto market follows the logic that rising water lifts all boats and falling water lowers all coins. Overall liquidity is continuously tightening, and without new capital providing support, all rebounds are merely temporary oversold recoveries, making a sustained major rally impossible. Final summary I am not calling for a collapse to zero or trying to create panic, but ETH has no bullish logic in the short term. Its deflationary narrative has completely gone bankrupt, capital is being siphoned into BTC, institutions continue to flee, technicals have broken down and weakened, and market liquidity has dried up—five layers of bearish pressure piling up. At this stage, the probability of success for shorting is far higher than for going long. Every rebound is an opportunity to reduce exposure or open short positions; it is still too early to buy the dip.$ETH