After the GENIUS bill is passed, it will be a huge boon for the stablecoin market. Previously, the regulation of stablecoins in the United States was fragmented and mainly relied on state-level licenses. With the GENIUS Act providing a comprehensive regulatory framework at the national level, members of this track can be legalized and regulated. Don't be sued by the SEC like before. Similarly, large funds can enter with confidence, and applications based on stablecoins will also flourish. And Ethena was at the forefront, with the fastest movements. By partnering with Anchorage Digital, a federally licensed cryptocurrency bank, he became the first stablecoin developer to comply with the US GENIUS Act. This behavior is also highly recognized by the market, and in the context of other counterfeit adjustments, ENA's trend is very good. Looking at the stablecoin market now, USDT has not issued tokens or stocks, while USDC has issued US stocks, with a market value of over 400 billion yuan. So the remaining ENA are likely to be the leaders and deserve long-term attention.