Ethher's price increases, Bitcoin falls when the “crypto week” comes to an end

Ether, the second largest cryptocurrency after Bitcoin, continued to rise after the House of Representatives had approved three crypto -friendly invoices that could increase the digital assets.

The price for ether, the native cryptocurrency of the Ethereum network, recently increased by almost 6% to over 3,600 US dollars, the highest level for months. Bitcoin (BTCUSD), which has recently exceeded 120,000 US dollars, is now dealing with around 118,000 US dollars. According to CoinmarketCap, the combined market capitalization of cryptocurrency increased 4 trillion dollars.

President Donald Trump, who previously said that he wanted to make the USA “the crypto capital of the world”, is now expected to sign the brilliant law that was passed in the law on Thursday. The law creates a framework for private companies to support stable coins, digital tokens that are supported by state currencies such as the dollar.

The shares of the Circle Internet Group (CRCL), the largest US stable coin emittent to Tether, jump by more than 3%. Circle shares have increased more than six times from their IPO of $ 31. However, Tether is benefited as less from the Genius Act, which means that stable coin emitters have to support their reserves with state currencies or cash, since it is supported by Bitcoin, Gold and Treasury bills.

Crypto-bound stocks rose higher in premarket trading. Shares of Strategy (MSTR), the company that made the Bitcoin Treasury strategy, the Crypto Miners Mara Holdings (Mara) and the Riot platforms (Riot) and the Coinbase Global (coin), the largest cryptocurrency exchange in the USA.

Two other laws that were adopted in a hectic week for the vote on crypto, which were referred to by the House of Representatives as a “crypto week”, still require the Senate's approval before they can move to Trump's desk. They are the Clarity Act that would set up a frame for the cryptocurrency regulation and the anti-CBDC surveillance law that prevents the Federal Reserve from issuing a digital currency of the central bank.

In the meantime, the US stocks listed with Fresh Record Highs after the end of the S&P 500 (SPX) and the Nasdaq Composite (IXIC) on Thursday. Nasdaq, S&P 500 and Dow Jones Industrial Average Futures show around 0.1% higher.