Circle's stock experienced a dramatic 34% surge on June 18, closing at $199.59, after the U.S. Senate passed the GENIUS Act. This pivotal legislation aims to establish federal oversight for stablecoins, including Circle's USDC, and has sparked significant market optimism. The stock briefly reached an all-time high of $200.90, reflecting a staggering 500% increase from its initial public offering (IPO) price of $31 just two weeks earlier. The GENIUS Act, approved by a 68-30 vote, now advances to the House of Representatives, with supporters hopeful for President Trump's signature. This development underscores the growing regulatory clarity and institutional confidence in the cryptocurrency sector, particularly for stablecoins. The market's bullish response highlights the potential for further growth and adoption of digital assets as they gain mainstream acceptance and regulatory support.
Circle Stock Soars 34% to Record High After GENIUS Act Passage
Circle's stock surged 34% on June 18, closing at $199.59 after the U.S. Senate passed the GENIUS Act, a bill establishing federal oversight for stablecoins like Circle's USDC. The stock briefly hit an all-time high of $200.90, marking a 500% increase from its $31 IPO price two weeks prior.
The legislation, approved by a 68-30 vote, now moves to the House of Representatives. Supporters aim for President Trump's signature before August's congressional recess. The market responded bullishly, with Coinbase rising 14% and Robinhood reaching a record $78.35.
Clear regulatory frameworks are expected to accelerate mainstream stablecoin adoption while reducing risks for U.S. issuers. The GENIUS Act introduces federal licensing requirements, signaling a pivotal shift in crypto policy.
Dogecoin Shows Resilience Amid Market Volatility, Flashes Oversold Signal
Dogecoin (DOGE) rebounded from an intraday low of $0.164 to close NEAR $0.171, marking a 4.7% recovery amid broader market weakness. The bounce suggests institutional accumulation at lower levels as traders brace for continued volatility.
Geopolitical tensions between Israel and Iran triggered intense selling pressure earlier this week, pushing Doge down 7% intraday before the rebound. Macroeconomic headwinds persist, with the Fed maintaining restrictive policy at 4.25%-4.50% rates—a historical drag on risk assets like memecoins.
Despite the turbulence, DOGE remains a top-tier liquid asset with $1.37B daily turnover and a $24.7B market cap. Technical indicators now flag oversold conditions, while LunarCrush data reveals 86% positive sentiment across 16,000+ mentions—a testament to unwavering community conviction.
The memecoin's trajectory hinges on two catalysts: regulatory developments around a potential U.S. spot ETF, and growing adoption in DeFi ecosystems like Coinbase's Base network where wrapped DOGE gains traction.
Ex-Coinbase Engineers Launch Nook Crypto Savings App With $2.5M Funding
Three former Coinbase engineers have introduced Nook, a crypto savings app designed to simplify decentralized finance lending. The startup secured $2.5 million in funding from Coinbase Ventures, Defy.vc, and UDHC. Targeting non-crypto-native users, Nook eliminates the complexity of traditional DeFi platforms by allowing sign-ups with just an email address.
Nook's initial lending partner is Moonwell, a platform founded by another Coinbase alumnus. During its pre-launch phase, the app onboarded over 50,000 users from a waiting list, offering 8% annual returns on Bitcoin and other cryptocurrencies. "We can't guarantee it, but that has been the result that users have been seeing," said CEO Joey Isaacson.
The app is now live in the U.S. App Store, with plans for a global rollout. By reducing the average 14-step process to access DeFi lending, Nook aims to bridge the gap for mainstream investors.
Did Ripple Really Lose Trillions in Business to Coinbase Over the SEC Lawsuit?
Ripple's legal battle with the U.S. Securities and Exchange Commission has sparked intense speculation about its financial repercussions. Social media rumors suggest the company lost trillions in potential revenue, with JP Morgan allegedly shifting business to Coinbase due to Ripple's legal uncertainties. Unlike Ripple, Coinbase operates without an active lawsuit or injunction, granting it a competitive edge.
XRP supporters have criticized Judge Analisa Torres for repeated deadline extensions, even calling for a corruption probe. Former SEC lawyer James Farrell disputes these claims, noting Ripple could have cited such losses in court filings if they were material. Ripple's filings emphasize the need for "even footing" with unenjoined market players, indirectly acknowledging the disadvantage.
Aerodrome Finance (AERO) Surges as DEX Dominance Grows on Base Network
Aerodrome Finance's native token AERO rallied to $0.9660 on June 19, marking a 235% rebound from April lows and pushing its fully diluted valuation past $1.54 billion. The breakout coincides with record futures open interest and surging protocol activity.
The decentralized exchange now ranks sixth globally by monthly volume, processing $14.86 billion in trades over 30 days. On Coinbase's Base network, Aerodrome dominates with $525 million in transactions - outperforming Uniswap's $349 million on the same chain.
Protocol revenue reflects this growth, with monthly fees jumping 49% to $19.7 million in May. Aerodrome's top liquidity pool on Base recently generated double the volume of Ethereum's leading pool despite holding half the total value locked.
Ethereum's Strategic Reserves Approach 1% of Circulating Supply as Institutional Holdings Concentrate
Nearly 1% of Ethereum's circulating supply—1.17 million ETH worth $2.96 billion—is now held in strategic reserves by institutional players. The concentration underscores growing confidence in ETH as a cornerstone digital asset among major organizations.
The ethereum Foundation leads with 259,430 ETH, followed by NASDAQ-listed SharpLink Gaming (176,271 ETH) and PulseChain Sac (166,303 ETH). Coinbase and Golem Foundation round out the top five holders, collectively controlling 72% of all strategically held ETH.
This accumulation milestone reflects deepening institutional engagement with Ethereum's ecosystem, even as ownership remains highly concentrated among 37 identified entities. The reserves now represent a measurable share of network supply, potentially influencing long-term market dynamics.
