- Total cryptocurrency market capitalization is approaching $4 trillion, nearing major historical highs.
- Major digital assets like Bitcoin, Ether, and XRP registered strong gains following the passage of three crypto bills in the U.S. House.
- Ether rose by 8% to surpass $3,600, while XRP increased by nearly 20% to reach $3.64.
- Market analysts attribute the rally to recent regulatory and institutional support in the United States.
- Some market trackers, such as CoinGecko, report that the $4 trillion milestone has already been crossed, despite other data showing figures just below that mark.
The global cryptocurrency market saw a sharp rise in value as total market capitalization approached $4 trillion on July 18. This movement came after the U.S. House of Representatives passed three key cryptocurrency-related bills, which corresponded with notable price increases in major digital coins.
According to tracking platforms such as CoinMarketCap and TradingView, crypto market capitalization peaked between $3.8 trillion and $3.9 trillion, surpassing the previous record of $3.73 trillion reached in December. Meanwhile, CoinGecko showed the market had crossed the $4 trillion mark. For comparison, NVIDIA, currently the world’s largest publicly listed company, recently reached a valuation of $4.2 trillion.
Bitcoin (BTC) maintained its price above $120,000, while Ether (ETH) surged 8%, closing above $3,600 for the first time since January. XRP climbed almost 20% in one day, hitting a yearly high of $3.64 during early Friday trading. Cointelegraph also reported that XRP is nearing a $200 billion market capitalization for the first time.
“Traders see digital asset prices surge from regulatory and institutional support,” said Nick Ruck, director at LVRG Research. “We’re optimistic that this growth will continue as institutions race to advance integration with the crypto industry.”
Nassar Al Achkar, chief strategy officer at CoinW crypto exchange, explained, “Bitcoin and other cryptocurrencies surged as traders entered a risk-on mode due to bullish regulatory and institutional developments.” He added that the approval of the GENIUS Act and proposed plans to include crypto in U.S. retirement markets could bring significant institutional investment.
This latest rally follows a period of increased interest from both regulators and major institutions. The passage of significant crypto-related legislation and positive signals from U.S. lawmakers are seen as key drivers for current market sentiment.
For full market data, TradingView’s latest chart offers updated capitalization figures.
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