The crypto market received a glimmer of hope this week with the introduction of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act by US Senator Bill Hagerty. The bill aims to establish a regulatory framework for stablecoins, with those above $10B market cap adhering to Federal Reserve regulations and those below being regulated by individual states. This development, along with the Trump administration’s support for stablecoins, has sparked a bullish sentiment in the community despite recent market downturns.
The GENIUS Act is expected to have significant implications for the stablecoin market, potentially driving increased adoption and usage. With the regulatory clarity it provides, major stablecoins like Tether (USDT) and USD Coin (USDC) could see a surge in demand. Furthermore, the act could pave the way for the US dollar to solidify its position as the world’s reserve currency in the digital era, creating trillions of dollars in demand for US Treasuries.
While the overall crypto market has experienced a downturn recently, the current price dips present an opportunity for investors to accumulate assets at discounted rates. Meme coins, which exploded in popularity last year, are particularly well-positioned for potential gains. Projects like Solaxy (SOLX), Mind of Pepe (MIND), and Meme Index (MEMEX) are currently in their presale phases, offering early investors a chance to get in at lower prices before potential price increases.
Solaxy (SOLX), the world’s first Solana Layer 2 ecosystem, has already raised an impressive $18M in its presale. By combining Solana’s speed and low fees with additional scalability, Solaxy aims to provide a robust platform for meme coins and dApps. Mind of Pepe (MIND), an AI-powered meme coin, has also garnered attention, with its presale raising over $5M. The project’s unique approach to leveraging AI for market insights and token launches sets it apart from other meme coins.
While the GENIUS Act and the potential of meme coins paint a bullish picture, investors should remain cautious and conduct thorough research before making investment decisions. The crypto market is known for its volatility, and regulatory developments, while positive, can also bring uncertainty in the short term.
Tags: GENIUS Act, stablecoins, meme coins, crypto regulation, Solaxy, Mind of Pepe
Source: https://www.newsbtc.com/news/best-upcoming-meme-coins-to-buy-as-us-announces-genius-stablecoin-bill/