Korean KOLs Drive $USELESS Token Rally Amid Market Shift
Market Overview
South Korea continues to impact altcoin markets significantly. The recent focus is on the token USELESS, driven by Korean KOLs. Key points include:
- The token has gained traction due to early investments from notable figures like Yeomyung.
- Retail investors in Korea are engaging in copy-trading based on successful wallets.
- The behavior of Korean users reflects a maturation into global market players.
President Trump endorsed the GENIUS Act, aimed at regulating stablecoins, highlighting its potential for U.S. leadership in digital assets. Key details include:
- The bill establishes reserve and compliance requirements for dollar-backed stablecoins.
- Its bipartisan passage in the Senate is seen as a significant crypto legislative step.
- Concerns remain regarding potential House amendments that may alter its scope.
- Critics highlight fragmented oversight and exclusion of interest-bearing stablecoins as flaws.
Coinbase Developments
Coinbase launched Coinbase Payments, enabling merchants to accept USDC payments seamlessly. Highlights include:
- The service operates on Coinbase's Ethereum layer-2 network, Base.
- It aims to modernize payment processes alongside competitors like Stripe and PayPal.
- USDC issuer Circle saw a 25% stock increase following the announcement, while Coinbase shares rose 16%.
Market Movements
- BTC: Bitcoin rebounded above $105,000 with strong ETF inflows.
- ETH: Ethereum increased 4%, supported by record staking.
- Gold: Gold slipped 0.19% amid steady Fed rates.
- Nikkei 225: Japan’s Nikkei 225 fell 0.27% influenced by mixed market conditions.
- S&P 500: The S&P 500 dipped 0.03% as uncertainty over tariffs persists.