Technology

XLM’s price to rocket like XRP, Trump’s big crypto nod: Hodler’s Digest, July 13 – 19

Posted on by Minakshi

Will Stellar (XLM) Follow XRP’s Rocketing Price? Crypto World Buzzes with Trump’s Nod

The cryptocurrency market is once again heating up, with investors and enthusiasts closely watching for the next potential surge. Following XRP’s impressive price rally, attention is now turning towards Stellar (XLM), with analysts speculating whether it can replicate similar gains.

Trump Signs Landmark Crypto Bill into Law

In a significant development for the digital asset space, former US President Donald Trump has signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law. This marks one of the first instances of crypto-related legislation being enacted during his administration.

The signing ceremony, attended by prominent figures in the cryptocurrency industry, signifies a growing recognition of the sector’s importance within the broader financial landscape. Key executives from major crypto firms like Kraken, Gemini, Coinbase, Circle, Tether, and Robinhood were present, showcasing the united front of the crypto community.

What Does This Mean for the Indian Crypto Market?

While the US legislation primarily impacts the American market, its ripple effects are likely to be felt globally, including in India. Here’s how:

  • Increased Legitimacy: Trump’s endorsement adds a layer of legitimacy to the cryptocurrency industry, potentially attracting more mainstream investors in India.
  • Regulatory Scrutiny: The US move may prompt Indian regulators to further examine and potentially refine the existing framework for digital assets.
  • Global Adoption: A clearer regulatory landscape in the US can accelerate the global adoption of cryptocurrencies, benefiting Indian investors and businesses involved in the space.
Summary:

  • Speculation rises if Stellar (XLM) can mirror XRP’s recent price surge.
  • Donald Trump signs the GENIUS Act, a significant crypto bill in the US.
  • The US move could have global implications, including for India’s crypto market and regulatory landscape.
Key Takeaways:

  • Stellar (XLM) is being watched as a potential candidate for significant price appreciation.
  • Trump’s signing of the GENIUS Act signals a growing acceptance of cryptocurrencies within mainstream politics.
  • This legislative development could push India to clarify and strengthen its own crypto regulations.
  • Indian investors should closely monitor global crypto policy changes as they can influence market trends and opportunities.