Ethereum (ETH-USD) soared Friday north of $4,000, setting a new high price for the year to collect from the wider Altcoin Rally led by Ripple and Chainlink earlier in the trading day.
After news that Ripple will buy Stablecoin Payments Platform, ChainLink will launch funded reserves for its tokens, so Altcoins rally earlier Friday.
Ethereum (ETH-USD) and SOLANA (SOL-USD) rose 5% and 3% respectively, as stocks closed at 4:00 p.m. on Friday. Ripple's XRP (XRP-USD) rose as much as 8% on Friday. Chainlink's link (link usd) rose by as much as 11%.
The company behind XRP (RIPL.PVT), the third-largest cryptocurrency in market capitalization, will announce on Thursday that it will acquire Rail, a global payments solution based on Stablecoin, which Ripple said will help the company build its own StableCoin payment platform.
The deal, worth $200 million, is expected to end in the fourth quarter of this year, “will “provide comprehensive stable payments and payments in major corridors including USD payments without requiring customers to hold cryptocurrencies on balance sheets,” according to a press release announcing the deal.
Stablecoin Issuer Circle (CRCL) was publicly published earlier this year on one of the most successful IPOs in the stock market; the company now has a market capitalization of $37 billion. Circle's USDC (USDC-USD) is the seventh largest cryptocurrency on the market cap and the second largest stable stable stock (USDT-USD).
On Thursday, the company behind Link, currently the 14th largest cryptocurrency on the market, announced its Chainlink Reserve, according to CoinMarketCap.
According to the company's press release, the reserve will establish its linked storage by converting revenue from agency fees and on-chain usage fees to coins.
The announcement comes as President Trump signed an executive order Thursday afternoon, which has promoted the use of alternative investments in retirement accounts, such as private equity and cryptocurrencies, which are usually reserved for more traditional stock and bond funds.
“My administration will reduce regulatory burdens and litigation risks, which hinders U.S. workers' retirement accounts from gaining competitive returns and asset diversification to ensure a dignified, comfortable retirement,” the order said.
President Trump held the Signed Genius Act, which was adjusted on July 18, 2025 in the eastern room of the White House (a cryptocurrency). （AP Photo/Alex Brandon） · Associated Press
Read more: Can you buy cryptocurrencies with your credit card? See Pros and Cons.
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Bitcoins were all assembled in Thursday's order signing, trading nearly $116,500 earlier on Friday.
These developments are the latest developments in Washington's rapid thawing of cryptocurrency adoption and regulation.
Congress carried out extensive publicity in two legislative chambers during Crypto Week in July to gain clarity, genius and anti-CBDC actions that surpassed their respective votes.
The Genius Act, signed by President Trump on July 18, has established a regulatory framework for the use of stable people like Tether. The Clarity Act, which aims to determine regulatory oversight of cryptocurrencies, and the Anti-CBDC Surveillance State Act, which attempts to prevent the Fed from establishing central bank cryptocurrencies, have been passed in the House and are now awaiting a vote in the Senate.
In recent months, a Bitcoin treasury strategy promoted by Michael Saylor's Strategy (MSTR) has also been widely adopted, in which a company buys Bitcoin to retain its balance sheet.
Jake Conley is an outstanding journalist covering shares of Yahoo Finance in the United States. Follow him on X or email him on @byjakeconley jake.conley@yahooinc.com.
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