New law passes, Igniting an explosion in Crypto and PayFi

After years of waiting in uncertainty, the crypto market has finally received one of its most positive signals from U.S. lawmakers. The passage of key bills by the U.S. House of Representatives on July 18 immediately ignited a wave of optimism, sending prices soaring across nearly all market segments.

1. PayFi leads the wave on stablecoin law news

According to data from SoSoValue, the most impressive performance came from the PayFi (Payment Finance) sector, which posted a staggering 17.06% gain in 24 hours. The main driver is believed to be the successful passage of the "Genius Act," the stablecoin bill. Investors anticipate that a clear legal framework will massively boost the adoption of stablecoins in payments, directly benefiting projects in this space. Two of the largest projects, Stellar (XLM) and XRP, reacted immediately, surging 11.42% and 18.15%, respectively.

2. Green spreads across the market

The euphoria was not limited to one sector. Major assets and key indices all recorded strong growth:

 - Ethereum (ETH): Gained 5.85%, decisively breaking through the key psychological level of $3,500.

 - Bitcoin (BTC): Although it only gained 1.33%, it continued its stable uptrend, consolidating above its new All-Time High.

 - Key Indices: The MAG7.ssi index (representing blue-chips) rose 6.37%, driven by the strength of XRP and ETH. Meanwhile, DEFI.ssi and MEME.ssi also gained 6.49% and 2.56%.

The strength spread to most other segments, showing a "risk-on" sentiment enveloping the market:

 - NFT and GameFi Sectors: Had an explosive day, rising 8.54% and 4.56%, respectively.

 - Layer-2 and Layer-1 Sectors: Posted solid gains of 5.73% and 4.31%, with tokens like Hedera (HBAR) surging nearly 25%.

 - The DeFi Sector: Also rallied strongly by 4.56%, with the trio of Uniswap (UNI), Ondo Finance (ONDO), and Chainlink (LINK) all up over 13%.

3. The significance of legal clarity

This broad-based rally is a clear testament to how much the crypto market has been "starved" for a clear legal framework from the U.S. The uncertainty over which agency (SEC or CFTC) would regulate the market and the lack of rules for stablecoins have been a major barrier for years, preventing capital flows from traditional financial institutions.

The passage of these bills, which are expected to be signed into law by President Trump soon, is seen as a "green light" for these large institutions. It paves the way for them to participate in the market confidently and legally, promising to bring a massive new wave of capital and mainstream recognition to the entire digital asset industry.