$PYTH
StableSnapshot Window: 2026-07-23 20:20 UTC · ← Back to Crypto Overview
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The next breakout NFT collection won’t just attract collectors. It’ll onboard an entirely new wave of people to crypto.
"Bitcoin is very clearly a commodity, and ETH is very similar in that regard. But a lot of the things built on top of Ethereum and Solana stand to benefit" Cole Kennelly, CEO of Volmex Labs, on who actually benefits from the Clarity Act "Bitcoin is bonafide and clearly under [Spoken audio]: Every token has something at stake with the clarity negotiations, but I guess one could probably argue Bitcoin has the least given that it's pretty settled as a commodity, and just sort of by design, it's rigid nature. There's less like on chain activity you can do with Bitcoin beyond just sending it back and forth. I want to kind of get your sense of what's happening with ETH. Solana, some of the other major ones where, I mean, aside from just perhaps getting a little bit of clarity on which regulator has has primacy, there's a lot at stake in particular for DeFi and some of the sort of activities that you can do on top of these multi-purpose blockchains. So our traders positioning themselves differently related to these tokens or related to Bitcoin, what does your platform tell you? In general, I think that Bitcoin is bona fide and clearly under the CFTC's remit based on previous administrations and the regulatory seats and things that they've said. Bitcoin is very clearly a commodity. I think ETH is also very similar in that regard. A lot of the things that are built on top of Ethereum and Solana stand to benefit and maybe things like hyper liquid and lighter and others stand to benefit from the Clarity Act and the increased clarity in the ecosystem. I think that it's nebulous how certain things are regulated, what is security, what is a broker, and the Clarity Act brings transparency and clarity to those areas. And so I do think that Ethereum and Solana ecosystem's hyper liquid have a lot to gain from this act, the statute going through. It's very interesting to see how the market will react to that. You've seen in recent days that on a seven-day timeframe, Ethereum is up almost a percent and Bitcoin is roughly up half a percent. This might be indicative of the fact that Ethereum and other smart contract platforms as well as other decentralized applications and exchanges have a lot to gain from the Clarity Act going through.
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