Ether, solana, XRP likely to gain if Clarity Act progresses
The U.S. Senate is set to hold a procedural cloture vote on the Clarity Act, a piece of legislation that could significantly impact the regulatory landscape for digital assets. Analysts suggest that while a successful vote could trigger a short-term market rally, the long-term impact remains uncertain due to low odds of final enactment and broader macroeconomic pressures.
Why it matters
This vote represents a critical juncture for crypto market sentiment, as legislative progress could provide the regulatory clarity needed to drive institutional adoption and shift the valuation of assets like Bitcoin, Ether, and Solana.
The Senate is scheduled to vote later Tuesday on a cloture motion to advance the Clarity Act. A successful cloture vote would allow debate to proceed and move the legislation closer to a final vote, but would not by itself make the act law.
According to Tim Sun, a senior researcher at HashKey Group, the procedural vote has an even chance of succeeding.
“Currently, the probability of the procedural vote passing is a coin toss, around 50%, while the odds of the bill becoming law by the end of the year are below 20%,” he told CoinDesk.
Lacie Zhang, a research analyst at Bitget Wallet, also suggested traders are not positioned for certain passage.
Quant-driven digital assets trading firm TDX Strategies said it expects a big bullish reaction in bitcoin if the cloture vote passes.
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