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US crypto stocks surged following the Senate’s historic passage of the GENIUS Act, marking the first federal regulatory framework for stablecoins and igniting investor optimism.
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Notably, Coinbase (COIN) and Circle (CRCL) experienced significant price jumps, while Galaxy Digital (GLXY) showed promising momentum driven by strategic partnerships and ecosystem growth.
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According to COINOTAG, the GENIUS Act’s regulatory clarity is expected to enhance market stability and institutional participation in the crypto sector.
US crypto stocks rally after the Senate passes the GENIUS Act, boosting Coinbase, Circle, and Galaxy Digital with new regulatory clarity and ecosystem advancements.
Coinbase Global (COIN) Surges on Regulatory Breakthrough and New Payment Network
Coinbase Global (COIN) witnessed a robust price increase exceeding 15% following the Senate’s approval of the GENIUS Act, which establishes the first comprehensive federal framework for stablecoins. This legislative milestone has significantly enhanced investor confidence in the crypto exchange sector.
Further catalyzing COIN’s rally was the launch of Coinbase Payments, a pioneering stablecoin transaction network facilitating USDC payments across major commerce platforms such as Shopify and eBay. This innovation positions Coinbase at the forefront of integrating digital assets into mainstream commerce.
The stock’s Chaikin Money Flow (CMF) indicator on the daily chart confirms sustained buying pressure, currently positioned above zero at 0.04, signaling positive money inflows. This momentum suggests potential for COIN to surpass the $305.42 resistance level if buying interest persists.
Conversely, a decline in demand could see COIN retracing to support near $270.61, underscoring the importance of monitoring volume and momentum indicators closely.
Circle Internet Group (CRCL) Experiences Explosive Growth Post-IPO and GENIUS Act
Circle Internet Group (CRCL) has demonstrated remarkable performance since its June 5 IPO, with a striking 33% surge following the GENIUS Act’s passage. Trading at $199.59, CRCL has achieved over a fivefold increase from its IPO price of $31, reflecting strong market enthusiasm.
The Accumulation/Distribution (A/D) Line on the daily-hour chart has surged by more than 250% to 24 million, indicating robust buying activity. This metric, which integrates price and volume data, suggests that demand currently outweighs selling pressure, potentially propelling CRCL beyond its all-time high of $200.90.
Should buying momentum wane, investors may see a correction toward $168.59, emphasizing the need for vigilant risk management amid volatile market conditions.
Galaxy Digital (GLXY) Gains Traction with Institutional Partnerships and Rising Momentum
Galaxy Digital (GLXY) has strengthened its market position through strategic collaboration between its GK8 custody platform and Polymesh, enabling institutional-grade custody and secure staking for POLYX tokens. This partnership enhances compliant staking solutions, particularly in South Korea’s rapidly expanding digital asset market.
GLXY’s stock price increased by 4% over the past day, supported by a rising Relative Strength Index (RSI) currently at 48.53. This upward trend in RSI indicates growing buying momentum without reaching overbought territory, suggesting room for further price appreciation.
If bullish sentiment continues, GLXY could break resistance at $19.57 and target $21.30. However, a decline in demand may result in a pullback toward $17.40.
Investors should monitor technical indicators closely to gauge momentum shifts and adjust positions accordingly.
Conclusion
The Senate’s passage of the GENIUS Act has catalyzed significant gains in key US crypto stocks, with Coinbase, Circle, and Galaxy Digital leading the charge. These developments underscore the growing institutional acceptance and regulatory clarity in the crypto space. Market participants are advised to watch momentum indicators and volume trends to navigate potential volatility while capitalizing on emerging opportunities.
