Global Crypto Market Cap Recent Developments:
The global crypto market cap has surged past $4 Trillion, driven by massive institutional inflows into BTC and ETH. Such a rapid increase in market cap signals a new era for digital assets and could reshape global finance.
The passage of key U.S. crypto legislation, including the GENIUS Act, has played a significant role in boosting investor confidence and fueling the market rally. Additionally, the surge in Bitcoin, Ethereum, and other altcoins has contributed to the record valuation.
- Regulatory developments: The U.S. House of Representatives passed three major crypto-related bills, including the GENIUS Act, which introduces regulations for stablecoins, and the CLARITY Act, which aims to clarify the regulatory framework for digital assets. These legislative moves have provided much-needed clarity and boosted investor confidence.
- Institutional interest: There has been a significant increase in institutional investment in cryptocurrencies, with major inflows into spot Ethereum ETFs and Bitcoin ETFs. This has attracted cautious institutional money that was previously on the sidelines.
- Performance of major cryptocurrencies: Bitcoin has regained its footing above $120,000, while Ethereum has surged 8%, reaching $3,600. XRP has also experienced a dramatic spike, reaching a year-to-date high of $3.64.
