Stablecoin Supply Don Pass $250B as US Senate Don Pass GENIUS Act
Total stablecoin supply don pass $250 billion for di first time, na Tether USDT and Circle USDC carry 86% of di circulation. Ethena (ENA) wey dey yield, don grow fast dey provide almost $6 billion since dem launch am. More than $120 billion US Treasuries dey held inside stablecoins, e show say market don recover from 2022 Terra collapse and 2023 USDC de-peg plus US spot crypto ETFs wey dem start. US Senate approve GENIUS Act 68–30, e establish federal reserve standards, audits and oversight for stablecoins, e open road for more bank and fintech adoption. After di vote and former President Trump support (plus im $TRUMP token push), Circle stock jump 34% to record $199.59 (peak $211.87 after hours), plus Coinbase announce say dem go accept USDC collateral for US futures markets. Traders dey expect short-term gbege but dem see di law as big catalyst for long-term institutional integration of digital dollars.
Bullish
Di tins dem tok say supply don reach $250B plus Senate don approve GENIUS Act, dis one good for stablecoins, especially USDC and USDT. Regulatory clarity dey reduce risk for issuer, e encourage institutional adoption and make demand grow. Circle stock rally plus Coinbase announcement for USDC collateral show sey market dey happy. Traders sabi sey short-term better wahala fit happen after legislation and token endorsements, but long-term integration into banking and futures market go make digital dollar ecosystem wea strong and get better liquidity.