“Meet Korea’s Next Alt Coin, $ Usless.”, – WRITE: www.coindesk.com
South Korea Has Long Been Known for Its Outsized Influence on Altcoin Markets, from The XRP Mania that Drove a 400% Rally Last Year to the Present-Day Obsense With.
The $ USELS PHENOMENON HAS Ties to South Korean Kols, Bradley Park, A Seoul-Based Analyst with Dntv Research, Told Coindesk in An Interview.
At the center of everything is yeomyung, A Korean Kol and Liquidity Provider Who Aped Into Usless Early, Held Through A 50% DrawDown, and Is Now Sitting on Serios Paper.
“HE MADE BIG PROFITS Durying the Trump Coin Run, and with USlessness, He Also Earned From [providing liquidity] Early on And Is Now Just Holding, ”Park Told Coindesk.“ They’re All Just Waiting for A Chex Listing, Because Without It, There’s No Real Way to Exit. ”
Park Tracked Yeomyung’s Wallet Activity and Noted that his Early CONVICATION HAS INSPIRED COPY-TRADING AMONG Korean Retail Investors. Even Wallets Tied to Insiders on Solana’s Jupiter
Are Holding. The Rise of User Reflects A Broader Evolution in Korean Market Behavior.
“I Truly Think Korean USERS IN THIS Market Are No Longer Just Exit Liquidity,“ He Said. “They’re Starting to Understand the Market and Are Evolving Into Real Global Players.”
Another Character in this Story is Bonk GuyAn Early Promoter of Bonk, Who Reaper to Tweet Enthusiastical About Usless After The Price Rebounded, Thought Korean Traders, Including Park, Have Quesified His Sin.
“Bonk Guy Was The First To Shill Letsbonk,” Park Said. “Buter The Price Collapsed, He Went Silent. NOW that USless is Bouncing Back, He’s Suddenly Showing Interest Again.”
Park Pointed to the Rise of Hyperliquid, Kaia, and Now Solana-Based Memecoins Like Uslessness As Evidence that Korea is no Longer a secondary Market.
While Xrp’s Rally Was Underpinned by Legal Clarity in the Us and Narratives About Trump-Era Deregulation, Uselss Feels Like Chas for Chaos’s Salen and More Like of Anato. Flowing in Today’s Market, Park Said.
With no roadmap, no utility, and no pretense of builing something bigger, It Taps Into a Kind of Memetic Disillusionment: A Collective Shrug at Tradional Crypto. Paradoxically, Appears to be more HONEST THAN MANY TOKENS CLAIMING TO CHANGE The WORLD.
Trump Endorses Genius ActPresident Donald Trump on Tuesday Endorsed the Genius Act in a Truth Social Post Following It Bipartisan Passaan in the Senate, Calling It A Majoor Step Town of USE.
Trump urged the House of Representatives to pass the Bill “Lightning Fast” and with Amendments, Stating It Should Be Sent to His Desk with “No Delays, No Add-Res.”
The MESSAGE SIGNALS STRONG Executive Support for the Guiding and Establishing National Innovation for Us Stablecoins and Marks The First Major Piece of Crypto Legislation to Clear The Senate.
Trump Framed The Legislation As Key to Enabling “Massive Investment” and “Big Innovation,” Positioning the US as A Global Leader in Digital Assets.
While the Bill Passed The Senate With Significant Bipartisan Backing, Its Fate in The House Remains Unortain.
Democratic Lawmakers Are Weighting Potential Anendments, Including Stricter Oversight for Foreign-Sissified Tokens and Limitations on Potential Issuers.
However, The Bill ISN’T WITHOUT ITS Critics. In a recent coindesk editorial, Georgetown University Finance Professor James J. Angel Argues that Genius Act Is a Flawed Piece of Legislation Because of Fragmented Oversight Oversight. Processes, Exclusion of Interest-Bearing Stablecoins, and Ineficient Joint Rulemakings.
News RoundUp: Coinbase Unveils Coinbase Payments for MerchantsCOINBASE (COIN) UNVILILED COINBASE PAYments on Wednesday, Coindesk Previoously Reported, A New Merchant-Focused Payments Stack Built on Itereum Layer-2 Network Base.
The Product Allows Global Ecommerce Platforms Like Shopify to Accept USDC 24/7 Without Needing Blockchain Expertise, USING TOOK LIKE A GASLESSLCOIN CHECOOUTce Payments Protocol.
Coinbase Said the System is Designed to Replicate Traditional Payment Rails While Lowering Costs and Offering Always-on Settlement. The Launch Positions Coinbase Alongside Fintech Firms Like Stripe and Paypal in the Race to Modernize Payments with Blockchain Infrastructure.
It ALSO DEEPENS ITS Partnership with USDC Issuer Circle (CRCL), Whose Shares Jumped 25% on the News, While Coinbase Rallied 16%. Coinbase Says Stablecoins Processed $ 30 Trillion in Transactions Last Year, Tripling from The Year Prior, and It’s Betting that ProgramMable Stack.
Market Movements:
- BTC: Bitcoin Rebounded Above $ 105,000 in A V-Shaped Recovery Descalating Israel-Iran Tensions, With Strong etfLows and Key Support at $ 103.650 Highlighting Volatility, accounting to Coindesk Research’s Technical Analysis Data.
- Eth: Ethereum Rebounded 4% to Hold Above $ 2,500 Despite Middle East Tensions, with Record-High Staking and Accuumation Signaling Growing Investor CONVICATION AMID MARKET VALATITY.
- GOLD: Gold Slipped 0.19% to $ 3.383.11 After The Fed Held Rates Steady at 4.25–4.5%, with Chair Powell Signaling No Imminent Policy Changes and Emphasing CONTINUNOM
- Nikkei 225: Japan’s Nikkei 225 Slipped 0.27% on Thursday asia-Pacific Markets Traded Mixed, Weighed Down by the Fed’s Rate Pause and Ongoing Israel-Iran Tensions.
- S&P 500: The S&P 500 Dipped 0.03% to 5,980.87 After The Fed Held Rates Steady, with Chair Powell Signaling a Wait-End-See Approach Amid Uncertain Over Trump’s Tariffs.
Elsewhere in Crypto:
- Crypto Doesn’T have to be a market for LEMONS (BLOCKWORKS)
- Are Criminals Really Switching from Crypto to Gold for Money Laundering? (Decrypt)
- Uk to propose restrictions on how canks cans deal with Crypto Next Year (Coindesk)
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