Last week, the US Senate rejected the cryptocurrency-friendly stablecoin bill GENIUS.
However, while the GENIUS Act is expected to pass after being re-voted in the Senate, Placeholder managing partner Chris Burniske said that Etheruem will gain the most benefit from the GENIUS Act.
Evaluating the legislation from his account X, Burniske said that Ethereum (ETH) is likely to be the crypto that will benefit the most from the passage of the GENIUS Act proposed to regulate stablecoins.
Burniske noted that Ethereum would benefit the most from the GENIUS law due to its large stablecoin ecosystem and robust decentralized finance (DeFi) infrastructure.
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Stating that the interest of institutions in Ethereum and the long-term trust relationship cannot be ignored, the analyst stated that the GENIUS Act could also have a positive impact on Solana (SOL) and Tron (TRX).
“Of all crypto assets, the GENIUS Act would likely be most positive for Ethereum. Given ETH’s stablecoin base, solid DeFi Infrastructure, and long-standing institutional relationship, that’s my guess. SOL and TRX will also benefit from this law and will not be far behind. SOL and TRX are dark horses that have been overlooked for historical reasons. Let’s all see how everything turns out.”
*This is not investment advice.
