Crypto Market Cap Nears $4 Trillion as Bitcoin and Altcoins Surge Following Key US Legislation

Key Points

1. The total crypto market cap peaked around $3.8 trillion to $3.9 trillion, surpassing the previous record of $3.73 trillion set in December.

2. Bitcoin regained its footing above $120,000, Ether surged 8% to top $3,600, and XRP spiked nearly 20% to a year-to-date high of $3.64.

3. The US House of Representatives passed three crypto-related bills, including the GENIUS Act, which introduces initial regulations for digital assets, and a bill to prohibit the issuance of a central bank digital currency (CBDC).

4. The legislative momentum in the US has boosted investor confidence, sparking fresh enthusiasm for digital assets.

5. Trump’s family holds significant interests in crypto ventures, including a $58 million pull from crypto ventures in 2024 and an anticipated $390 million token sale in 2025.