Traded Value$Circle(CRCL.US) falls ~15% after the CLARITY Act deal signals no yield on stablecoin balances by allowing only activity-based rewards.
That weakens a key part of the bull case by making USDC harder to evolve from a payments utility into a real store-of-value product.
This might be Bullish for $BitMine Immersion Tech(BMNR.US).
If there is no yield for holding stablecoins (without activity), people will buy $ETH/USD(ETHUSD.HAS) hold it and stake it for 2-4%.
Plus it incentivizes stablecoin transactions which will burn ETH.
@Bridge Buzz SG
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