With a U.S. Senate vote on the Clarity Act drawing closer, the cryptocurrency industry has entered a state of tension. At the same time, the possibility of Ripple pursuing an initial public offering has surfaced, stirring both expectations and concerns among XRP investors. A surprise variable also added to market anxiety, with the World Health Organization issuing a hantavirus alert. Ethereum and the altcoin market continued to pause as expectations of a cautious rebound persisted.

• Industry on edge over Clarity Act “vote on the 14th”... White House sets “July 4” • May 14 is a watershed for the U.S. Clarity Act... dispute over stablecoin rewards and conflicts of interest • Crypto industry welcomes resumption of U.S. Senate review of Clarity Act... “a critical hurdle”

The White House has set “July 4, U.S. Independence Day” as the target date for enacting the Clarity Act. The U.S. Senate Banking Committee released amendments ahead of a markup procedure scheduled for the 14th. Whether to allow interest payments on stablecoin balances and provisions to prevent conflicts of interest have emerged as the biggest issues. The industry sees this review as a substantive watershed for legislation within the year.

The cryptocurrency industry uniformly welcomed news that review of the Clarity Act has resumed, calling it “a critical hurdle that will determine the future of the cryptocurrency industry.” The bill’s core includes clarifying criteria for classifying digital assets as securities or commodities and establishing a regulatory framework for stablecoin issuers. Concern that failure to pass the Clarity Act would raise the likelihood of tighter U.S. government regulation of the cryptocurrency industry continues to weigh on the market.

• As the Digital Asset Basic Act is delayed... financial sector enters race to pre-empt stablecoins • Eyes on revision of the Enforcement Decree of the Act on Reporting and Use of Specified Financial Transaction Information... industry worries about regulatory burden for digital assets

In South Korea, analysis says that as legislation on the Digital Asset Basic Act is delayed, financial firms such as banks and securities companies have already jumped into competition to pre-empt the stablecoin market. A “clean-up” of the cryptocurrency market is also picking up pace. Millions of low-quality coins with no trading volume or halted development have entered delisting and other removal procedures at exchanges. Some also see that this process will improve conditions for a rise in major assets including bitcoin.

• Bitcoin market on alert after WHO hantavirus warning... will a COVID-scale nuclear bomb be repeated • A bitcoin whale that “held for 12 years” has awakened... a 600 million won stake turns into 60 billion won

The biggest shockwave in the bitcoin market this week came from an unexpected place. After the World Health Organization issued an international alert on hantavirus, investors who remember the sharp drop in the cryptocurrency market in early 2020 during the initial COVID-19 period reacted immediately. Concern about the possibility of a pandemic returning spurred short-term selling sentiment and put downward pressure on bitcoin’s price. Separately, a whale investor who held bitcoin for 12 years drew attention after turning 600 million won into 60 billion won. Another view also persists that an extreme plunge will be limited thanks to institutional inflows forming a solid support line.

• Attention on Ripple IPO... CEO: “Considering special rewards for XRP investors” • Ripple CEO: “XRP is now used as institutional collateral”... signals broader real-world use • Ripple has spent $3 billion on acquisitions since 2023... CEO Garlinghouse: “aimed at strengthening the XRP ecosystem”

As Ripple’s push for an IPO comes into clearer view, intense attention has focused across the XRP ecosystem. Ripple CEO Brad Garlinghouse (브래드 갈링하우스) reaffirmed his intention to step up the IPO effort. He said the company is considering paying separate special rewards to XRP investors, raising expectations in the community. Ripple has poured $3 billion into mergers and acquisitions since 2023, describing it as part of strengthening the XRP ecosystem. The CEO’s remark that XRP has now begun to be used as institutional collateral also drew attention.

Outlooks are mixed, however. Ripple’s former chief technology officer Jed McCaleb (제드 맥케일럽) took a cool view of expectations that XRP will surpass $20, saying the market-cap structure itself is different from bitcoin’s early breakthrough above $100. Separately, 6.3 million XRP were withdrawn in a large transaction from Upbit, concentrating attention on the whereabouts of unidentified whale funds. XRP price forecasts for 2026 to 2030 have also made investment decisions harder, with optimism such as “it goes to $28” facing pessimism such as “even $1 is precarious.”

• Will an altcoin season come in 2026... long-term patterns signal an alt rally • Institutions pick different coins... top 10 promising cryptocurrencies for 2026 • “Low-quality coins need to be cleaned up before bitcoin rises”... removal of millions of cryptocurrencies under way

Across the broader altcoin market, expectations of a trickle-down effect are cautiously forming. Analysis has been raised that long-term pattern analysis is detecting signals of an altcoin rally, and that the rotation after bitcoin’s one-man run could extend into altcoins. Among market participants, whether an altcoin season will fully begin has emerged as this week’s biggest topic.

Movements of institutional capital are reshaping the cryptocurrency market landscape in 2026. Analysis that there are certain coins that institutional investors are concentrating on drew attention, nearing the top spot in views, and spurred retail demand to reshuffle portfolios.