Crypto may have benefited from the failure of the US CLARITY Act, according to Bitwise Chief Investment Officer Matt Hougan.

The CLARITY Act failed to get the 60 votes needed to move forward in the US Senate after years of negotiations. But instead of hurting the crypto market, its failure was followed by a strong rally across several digital assets.

Unexpected Wins in Washington

Both Bitcoin and Ethereum rose about 11% after the vote. Some other tokens posted much bigger gains. NEAR jumped 125%, Uniswap rose 49%, and Avalanche gained 44%, according to Hougan. The reaction may seem surprising because the crypto industry had strongly supported the bill. Hougan said the industry wanted the legal certainty that CLARITY promised. But added that the final version also included several compromises that could have created new restrictions for crypto companies.

One major area is stablecoins. The exec explained that the proposed legislation would have restricted platforms from paying customers interest or rewards on stablecoin balances. With the bill now stalled, existing stablecoin rules remain in place. Hougan said this could benefit companies such as Coinbase, which use stablecoin rewards to attract users.

CLARITY would have created a national licensing system for spot crypto exchanges. It also could have placed limits on the way exchanges combine trading and brokerage services. With the bill gone, established exchanges such as Coinbase and Kraken avoid those changes for now.

Instead of waiting for new legislation and lengthy studies, the SEC recently allowed certain tokenized US stocks to trade through blockchain-based systems under temporary rules, which, according to Hougan, could give tokenization companies a chance to test the technology in real markets sooner.

Revenue-generating tokens are another area that has benefited from clearer regulatory guidance. Several tokens, including NEAR and Uniswap, have gained strongly while using protocol revenue for token buybacks. The SEC has also clarified that, once a blockchain network is functional, announcing a buyback program does not by itself turn a token into a security.

There is still a major risk as regulation can change when a new administration takes office. A future SEC or CFTC leadership could take a tougher approach to crypto. Despite this, Hougan expects “crypto to be too big to crush.”

Progress Under Existing Rules

Michael Saylor, co-founder and former CEO of Strategy, also sees the failure differently. He recently argued that crypto may be better served by working with supportive regulators at the SEC, CFTC, Treasury, and banking agencies than accepting the restrictions included in the bill’s final version.

Saylor believes the sector should use the next few years to build compliant crypto products under existing rules instead of rushing to accept a compromise simply to get legislation passed. His focus is on products that can lower costs, expand access, and give users more control over their money.

The post Crypto May Be Better Off Without CLARITY Act, Says Bitwise CIO: ‘Too Big to Crush’ appeared first on CryptoPotato.

The popular altcoin has soared by 180% over the past month, and several hours ago it surpassed $5.50 for the first time since the start of 2025. It currently trades around $5.10 (per CoinGecko), up 7% for the day, making it one of the top performers today (September 30).

The most obvious catalyst behind the latest uptick is the launch of the first spot NEAR ETF. Bitwise introduced the product, dubbed NRR, with Coinbase Custody as custodian. The impressive rally has naturally fueled a wave of bullish predictions, with many analysts expecting further upside ahead. Others, though, warned that a major correction might come next.

The Bullish Scenario

X user Nebraskangooner spotted a double-bottom formation on the asset’s chart and claimed that “a strong monthly candle” is in progress. Team LAMBO Charts said NEAR bulls have been waiting for years for the recent rally, speculating that a price discovery mode might be in the cards.

WIZZ and Altcoin Sherpa also weighed in. The former believes that NEAR’s next stop is above $10, while the latter maintained that the token’s performance will mostly depend on BTC.

“Break to the upside, and this was the low. If we break below 83k, though, then NEAR probably goes to $4 or lower. No position now, but currently watching very closely,” the analyst said.

For his part, Crypto Rover highlighted the launch of the first spot NEAR ETF and noted that Bitwise (the company behind the investment vehicle) recently raised its base-case price target to $155, while its bull-case target stands at $562.

Michael van de Poppe has also been quite vocal on the asset lately. Earlier this month, he described NEAR as “one of the easiest ones to hold in this bull market,” saying he has been “happily accumulating” at $1.20-$1.50.

‘Generational Short Opportunity’

Of course, not everyone is in the bulls’ corner. X user Gordon noted NEAR’s triple-digit increase over the past month, alerting that such major pumps have historically been followed by violent corrections. The analyst went further, saying that NEAR currently presents a “generational short opportunity.”

The token’s Relative Strength Index (RSI) backs the bearish theory. The ratio has surged past 70, suggesting NEAR’s price has risen too much in a short period, entered overbought territory, and may be setting up a pullback. The index runs from 0 to 100, where anything below 30 is considered bullish.

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