This week's rise is mainly related to the US stablecoin legislation, especially GENIUS Act The progress. (Voting today) The market's optimism towards clear regulation seems to be the main driving force, and the increase in institutional interest may also contribute to the rise. Most people believe that this is also a recognition DeFi The bill. Legislative impact 👀 The bill may provide a clear regulatory framework for stable currency, increase investor confidence, and promote demand, especially the demand for US treasury bond bonds, which may indirectly benefit the DeFi Projects, such as Curve（ Stablecoins DEX）、MakerDAO（SKY）、AAVE、Compound and Ethena。 “Guiding and Establishing National Innovation for America. Stablecoins of 2025 Act“ (GENIUS Act) The bill requires that the payment of stable currency must be supported by 100% US dollar cash or short-term US treasury bond bonds to protect the holders of stable currency and prevent criminal or terrorist financing abuse ETH Main network DeFi Potential benefits of the project 👀👀 • Curve： As a stablecoin DEX，Curve Promote low-cost and low sliding point transactions between stablecoins. The increase in stablecoin usage is expected to significantly enhance Curve The daily trading volume (currently averaging around $300 million) • MakerDAO (SKY)：MakerDAO Issuing decentralized stablecoins DAI， Clear regulation may enhance DAI The stability and adoption indirectly enhance its governance token MKR The value of • AAVE and Compound： These two lending agreements allow users to lend and borrow cryptocurrencies, often with stablecoins as collateral. The increase in stablecoin usage will drive liquidity and lending activities on these two platforms AAVE Due to leading market share and innovation speed, it may be Compound Benefit more • Ethena： Provide synthetic US dollars (USDe) and other assets, relying on the stablecoin ecosystem. The increase in demand for stablecoins may enhance the demand for their synthetic assets, especially in leveraged trading