Polymarket · US Senate · France · CLARITY Act · Bitcoin · Donald Trump · Cointelegraph
Bitcoin’s new $80K target: Hodler’s Digest, July 19
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The fate of the CLARITY Act hinges on Trump’s ethics, so the odds aren’t looking great.
Key facts
- At the end of the week, Bitcoin (BTC) is at $64,620, Ether (ETH) at $1,868 and XRP (XRP) is at $1.09
- CEX perps volume also declined 10% to $12.7 trillion, while the stablecoin market slipped 1.6% to $305.1 billion
- Spot trading volume across the top 10 centralized exchanges (CEXs) fell from $2.7 trillion in the first quarter to $1.95 trillion in the second, according to CoinGecko’s latest Crypto Industry Report
- Among the biggest 100 cryptocurrencies, the top three altcoin winners of the week are Pump.fun (PUMP) which gained 36%, Venice Token (VVV) on 10%, and Litecoin (LTC) which is up 7%
Summary
Polymarket suggests the odds of the CLARITY Act passing this year are 40%, after a raft of Democratic Senators, including Chris Murphy, Jeff Merkley and Chris Van Hollen, spoke out against the bill. A crucial Senate vote could happen as early as this week, with Senate Majority Leader John Thune stating it will definitely be held before Aug. 10. Summer Mersinger, the CEO of the Blockchain Association and a former commissioner at the US Commodity Futures Trading Commission, said: “ Ethics is the big elephant in the room. ” Crypto markets continued to flounder in the second quarter, with the notable exception of prediction markets. Spot trading volume across the top 10 centralized exchanges (CEXs) fell from $2.7 trillion in the first quarter to $1.95 trillion in the second, according to CoinGecko’s latest Crypto Industry Report.