As the procedural vote for the three cryptocurrency bills (Genius, Clarity, and Anti-Central Bank Digital Currency Act) that were previously halted in the U.S. House of Representatives can now be conducted again, the cryptocurrency market is showing a simultaneous upward trend.
According to CoinMarketCap, a global cryptocurrency market tracking site, as of 8 AM on this day, BTC was traded at $118,695.95, up 0.73% from 24 hours ago.
Major altcoins are showing a sharp increase. The leading cryptocurrency Ethereum (ETH) recorded a significant surge of 8.78% to $3,365.45, and Solana (SOL) also jumped 7.08% to trade at $173.85. XRP rose 4.97% to $3.05.
In domestic exchanges, BTC is declining, while major altcoins are rising. On Bithumb, BTC recorded 161,519,000 won, up 0.60% from the previous day. ETH rose 3.06% to 4,574,000 won, and XRP traded at 4,154 won, up 1.91%.
The market sees this as a revival of expectations for the passage of the three U.S. cryptocurrency bills. Previously, the U.S. House of Representatives designated this week as 'Crypto Week' and began reviewing the so-called 'three cryptocurrency bills', but the procedural floor vote was rejected 196 to 223 the day before. The Republican House leadership, who were leading the bill's passage, wanted to review each bill, but some Democrats and Republicans opposed this. Particularly, defections within the Republican Party, which is proactively pushing the bills, influenced the rejection.
However, the U.S. House of Representatives passed a motion to re-examine the package of three bills with 215 votes in favor and 211 against, allowing for another vote. The procedural vote is a preliminary step to create rules for formally handling the bill, and only after this stage passes can the bill be reviewed and voted on in the main session. However, it remains uncertain whether the result will change to approval in the re-vote.
The Fear and Greed Index from cryptocurrency data analysis firm Alternative.me remains at 70 points, the same as the previous day, indicating a state of 'greed'. This index means that the closer to 0, the more constrained the investment sentiment, and the closer to 100, the more overheated the market.
- Reporter Shin Jung-seop
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