Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are showing surprising resilience despite fading hopes for near-term U.S. crypto legislation.
Crypto Shrugs Off Clarity In a Schwab Network interview on Aug. 6, Charles Schwab equity research director Adam Lynch noted that the CLARITY Act is "pretty much dead." He added that he does not expect much progress on the legislation for now.
Still, Bitcoin has held relatively firm above $65,000 after briefly dropping to around $62,500 at the beginning of August.
Lynch said the muted response suggests passage of the CLARITY Act was not heavily priced into cryptocurrency valuations.
Ethereum has performed even better with an approximate gain of 18% since June 1, compared with about 7% for Bitcoin.
