Bitcoin News Today: Genius Act Sparks 3.5% Ethereum Gain, 8.7% Dogecoin Surge

The recent enactment of the Genius Act has ignited considerable excitement within the cryptocurrency market, particularly among altcoins. Stellar ($XLM) has witnessed a substantial rise in the supply and volume of $USDC, with a stablecoin increase of approximately $187 million this month. This surge in stablecoin activity on the Stellar network indicates a growing demand for stable assets within the ecosystem, potentially driven by the regulatory clarity provided by the Genius Act.

The Genius Act has also positively influenced other major cryptocurrencies. While Bitcoin has seen a modest price increase, altcoins such as Ether, XRP, and Solana have shown significant gains. This trend suggests that investors are exploring opportunities beyond Bitcoin for potential growth. According to the analyst's forecast, altcoins like ADA, XRP, ETH, BONK, and $TLD are offering unique combinations of momentum, utility, and upside potential, making them attractive investment options.

Beyond these well-known altcoins, other cryptocurrencies are also gaining traction. Bitcoin ($HYPER), Best Wallet Token ($BEST), and Conflux ($CFX) are among the top altcoins to consider, as they provide real-world utility and innovative features. These altcoins are well-positioned to benefit from the regulatory framework established by the Genius Act, which could drive further adoption and investment in the cryptocurrency market.

The passage of the Genius Act has had a notable impact on the broader cryptocurrency market. Ethereum has seen a 3.5% increase, while Dogecoin has surged by 8.7%. This surge in altcoin prices is driven by the stablecoin regulations introduced by the Genius Act, which provide a more stable and predictable environment for cryptocurrency investments. As a result, investors are increasingly turning to altcoins as a means of diversifying their portfolios and capitalizing on the growth potential of the cryptocurrency market.