After a rebound of 600%, the operators evaluate the situation in Circle Internet Group

• The Genius Law, which approved the US Senate this week, should bring greater utility and demand for the USDC.
• CRCL shares have earned 597% since their IPO price in just two weeks.
• Coinbase has launched a Stablecoin platform to benefit from the new regulatory framework.
• Visa and Mastercard’s prices show that Stablcoins could endanger the business model.

Circle Internet Group (CRCL) You can practically claim the title of the best action in June. The cryptocurrency platform set its IPO in 41 $ on June 5, and two weeks later, it quoted as high as $ 216 on Wednesday. The US variable rent is closed on Thursday by the Juneteenth holiday, but the 597% rebound from the IPO to the operators leads the operators to wait for prices of even higher shares for the rest of the month.

Two cryptocurrency actions are in a position to greatly benefit from the approval of the legislation on Stablecoins by the US Senate late Tuesday. The Genius bill, which must still be approved in the House of Representatives, makes it possible for Stablecoins to officially maintain treasure bonds Bonds and have a regulatory framework that would allow others to issue their own stablcoins for consumer spending purposes.

Global coinbase (Coin)the main exchange of US cryptocurrencies, exploded 16.3% higher on Wednesday, while Circle Internet Group, owner of the USDC stablecoin, rose 33.8%. In addition, the new rules for the stablecoins in the US are scaring investors in credit card issuers, with the possibility that retailers avoid transaction rates.

Genius law agitates credit cards, a benefit for Circle and Coinbase

Genius law approved the US Senate in a widely bipartisan way, 68-30, although most Democrats voted against. It is expected to pass in the House of Representatives in the coming weeks and then go to the White House for the signature of President Trump. Trump’s family business is already involved in the cryptocurrency industry in several aspects that could also benefit from the approval of the bill. It is also predicted that the law will increase the demand for debt of the US government.

“The projections show that with the approval of Genius, the stablecoins emitters could become the largest holders of the US Treasury bonds by 2030,” said the sponsor of the bill, Senator Bill Hagerty (R-TN).

The bill allows bank subsidiaries and other entities regulated Issue Stablecoins to US consumers as long as they are approved at the federal level. The Wall Street Journal reported on June 13 that so much Amazon (AMZN) as Walmart (WMT) They are considering emitting their own stablecoins so that consumers use them in their stores. Visa (V) and Mastercard (ma) Both quoted more than 5% downward in the various sessions after that report, since the stablecoins are seen as a means to avoid common rates of 2% -3% for retailers.

Coinbase then launched its Coinbase Payments product, a Stablecoin payment system for commercial platforms that is already active in sites of Shopify (Shop).

For its part, the Circle USDC already has 61.4 billion dollars in circulation, a cash source that can be reinvested in assets that generate yield and that the market expects it to grow greatly. In the most optimistic projections, some investors expect the USDC to one day billions of cash.

Group Internet Circle Graph

CRCL shares have been on a streak from the beginning, and can be one of the worst -valued exits of this year. CRCL shares closed with an increase of 168% on the first day of negotiation from the 3 $ o.fore price. Of the 10 sessions in which the action has quoted, six of them have seen two -digit profits.

While there are not enough data to predict a lot from the 4 -hour graph, then there seems to be some support between $ 101 and 108 and a second level of support around $ 145.

The setback chart of Fibonacci show that CRCL closed above the fibo level of 161.8% of 203.48 $ Wednesday. The following objective for bullies should be 261.8% FIBO at 264.80 $.

4 -hour CRCL shares chart