GENIUS Act Triggers $4 Billion Jump In Stablecoin Supply

The recent signing of the GENIUS Act in the US has caused a sudden surge in the stablecoin market, with supply growing by almost $4 billion over just one week. The act, signed into law on July 18, has given regulatory clarity to fiat-backed stablecoin issuers to hold full reserves, be subjected to regular audits, and be suitably licensed.

According to Cointelegraph, this new legal framework has encouraged both crypto-native firms and traditional financial institutions to enter the market with their own stablecoin offerings. As a result, the total market capitalisation of stablecoins has now crossed 264 billion dollars.

Institutions like Anchorage Digital, which is the only federally chartered crypto bank in the US, have already launched new platforms in collaboration with other players in the space. Asset managers such as WisdomTree have also introduced dollar-backed stablecoins, while major banks like JPMorgan and Bank of America are reportedly preparing their own compliant tokens.

Cointelegraph reports that the new law has eased previous concerns about regulatory enforcement, especially from the US Securities and Exchange Commission. This has resulted in a more competitive atmosphere, with businesses concentrating on trust, transparency, and compliance in order to win users.

The rapid increase in stablecoin supply is being viewed as a direct consequence of the GENIUS Act, demarcating the ability of regulation in instilling institutional confidence and accelerating innovation in the digital assets industry.

Hulk Hogan And Ozzy Osbourne Memecoins Spike Following Their Death News

Tokens named after Hulk Hogan, a professional wrestler, and Ozzy Osbourne, English singer and songwriter, spiked tremendously soon after it was reported they had passed away. As reported by Cointelegraph, a new token on the Ethereum network using Hogan's name, which was released only hours prior to his reported demise, jumped more than 122,000 per cent. It had a price of about 0.0013 dollars within very little time.

A separate token inspired by Osbourne, called The Mad Man, also witnessed a sharp jump. Cointelegraph reported it rose by nearly 16,800 per cent and touched a market cap close to 3.85 million dollars. Osbourne, aged 76, and Hogan, aged 71, were both celebrated figures, and the tokens seem to have gained traction following emotional online tributes.

These tokens have no official connection with either of their estates. Despite the sharp rise in prices, concerns remain over the legitimacy of such launches, with fears of scams or rug pulls. Many similar coins in the past have disappeared quickly after an initial burst of activity.

Even an older Solana token named after Hulk Hogan, which had faded into obscurity, jumped by over 2,000 per cent following the news. However, it still trades far below its previous highs.

Cointelegraph pointed out that this is not the first instance of memecoins popping up after the death of a public figure. The same trends occurred with the deaths of other famous people, tending to raise ethics and long-term value questions in such speculative trading.

Ether ETFs Attract More Investor Interest Than Bitcoin For Six Consecutive Days

Ether exchange-traded funds in the US have seen higher investor inflows than their Bitcoin counterparts for six straight trading days. According to Cointelegraph, these spot Ether ETFs recorded a total of around $2.39 billion in net inflows during this period, compared to roughly $827 million received by Bitcoin ETFs.

Cointelegraph reports that this consistent trend marks a rare moment where Ethereum is temporarily leading over Bitcoin in institutional interest. A significant portion of this momentum came from the iShares Ethereum ETF by BlackRock, which alone received $1.79 billion, making up nearly 75 per cent of all Ether ETF inflows during the stretch. The fund also became the third-fastest ETF to reach $10 billion in assets under management, doing so in just 251 trading days.

While Bitcoin ETFs remain a major force in the market, Cointelegraph notes that they experienced a slowdown in investor activity during this six-day period, including a net outflow of about $131 million on the final day. This ended a 12-day streak of positive inflows.

According to Cointelegraph, this shift in investor attention points to growing short-term confidence in Ethereum-based products. Although Ethereum is gaining traction, it does not necessarily indicate a long-term reversal of Bitcoin’s dominance in institutional portfolios.