Crypto Stocks, Altcoins Surge Amid Stablecoin, Network Upgrades

Cryptocurrency-linked stocks and digital assets experienced a significant surge amid growing optimism driven by regulatory clarity and technological advancements. ICG led gains in crypto concept stocks with a 13% increase, reflecting strong investor confidence in blockchain innovations. Conflux (CFX) notably rallied over 100% following announcements about the development of offshore yuan-pegged stablecoins targeting Belt and Road Initiative countries and an upcoming Conflux 3.0 network upgrade aimed at boosting transaction capacity for cross-border payments. XRP also surged more than 29%, buoyed by legal clarity from the GENIUS Act signed into law by President Donald Trump, which provides a clearer regulatory framework for stablecoins like Ripple’s RLUSD. Ether prices rose alongside these developments, as investors shifted toward Ethereum amid the stablecoin regulation that bans yields on regulated stablecoins, further driving demand for decentralized finance alternatives. Overall, these trends signal a burgeoning altcoin rally and increased institutional acceptance of cryptocurrencies, setting the stage for continued growth in the sector.