USDC - If Congress Passes Stablecoin Legislation These 3 Cryptos Have Massive Upside
2023-06-01 05:21:00 ET
Congress is still working on a framework for comprehensive crypto legislation, and it looks like the starting point is going to be stablecoin legislation. The growing consensus seems to be that if Washington lawmakers can figure out how to regulate stablecoins, then they should be able to figure out a way to regulate other cryptos.
Thus, new stablecoin legislation could provide a nice boost to the overall crypto market. But which individual cryptos stand to benefit the most?
To answer that question, it's important to understand why stablecoins are so popular and how they are used. The biggest stablecoins -- such as Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC) -- rank among the top five cryptos in terms of market cap. Tether, for example, has a market cap of $83 billion, while USD Coin has a market cap of $29 billion. Combined, that's approximately 10% of the entire crypto market, which has a current market cap of $1.1 trillion.
For further details see:
If Congress Passes Stablecoin Legislation, These 3 Cryptos Have Massive Upside