New York, July 19 (V7N) – Crypto-focused stocks rallied on Friday as ether, the world’s second-largest cryptocurrency, jumped to a six-month high after the U.S. House of Representatives passed a major bill aimed at regulating stablecoins. The legislation, which is expected to be signed into law by President Donald Trump, marks a significant milestone for the digital asset industry.
 
Ether rose by 6.6% to $3,643.09, reaching as high as $3,675.81—its strongest level since January 6. The surge was driven by optimism around stablecoins, which are digital tokens typically pegged to the U.S. dollar. These stablecoins are mostly issued and transacted on the Ethereum blockchain, increasing demand for ether to cover transaction fees.
 
Shares of crypto-related companies responded positively. BitMine Immersion Technologies jumped 12.7%, Bit Digital rose 6.5%, and BTCS gained 22.9%. Stablecoin issuer Circle Internet climbed 6%, while Coinbase Global added 7.6%, reaching a record high since its 2021 IPO.
 
The sharp rise reflects broader investor confidence in ether’s role in powering blockchain-based financial products. Analysts say that institutional accumulation of ether is being driven by the growing relevance of stablecoins, especially following Circle’s recent IPO success.
 
SharpLink Gaming, which has been actively growing its ether reserves through stock sales, expanded its share sale plan by $5 billion, reflecting continued commitment to crypto-based assets.
 
While bitcoin slipped 0.5% to $118,870 after touching a record $123,153 earlier in the week, ether outperformed due to the legislative momentum and rising usage across financial platforms.
 
Industry analysts and crypto fund managers say the new law could provide the clarity needed to encourage further adoption of stablecoins and accelerate the integration of crypto into traditional finance.
 
END/WD/AJ/